The realization of global carbon neutrality is never only about cutting-edge technologies and their fascinating efficiency stats. It is also about the cost. Solar photovoltaic and wind power are becoming more affordable, but what about the other crucial technologies such as nuclear power, hydrogen production, and energy storage?
Jing Meng, an associate professor at the University College London of the UK, has long focused on bridging the data gap on carbon emissions at the national and enterprise levels in developing countries, and precisely quantifying the cost of policies and future emission reduction paths. Jing developed an effective model for estimating the financial feasibility and costs of carbon-neutral pathways. By systematically analyzing the costs for 32 low-carbon technologies, Jing discovered that the installation costs of solar photovoltaic and wind energy have been competitive with conventional fossil fuels and may continue to decline. The majority of other technologies, on the other hand, require more significant policy assistance and scale effects to become more affordable. These results provide key data support and a solid scientific basis for better carbon neutrality policy design.