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After over two decades of staggering economic growth and soaring energy demand, China has started taking serious actions to reduce its economic energy and carbon intensity by setting short and mediumterm intensity reduction targets, renewable generation targets and various supporting policies and programs. In better understanding how further policies and actions can be taken to shape China’s future energy and emissions trajectory, it is important to first identify where the largest opportunities for efficiency gains and emission reduction lie from sectoral and end-use perspectives. Besides contextualizing China’s progress towards reaching the highest possible efficiency levels through the adoption of the most advanced technologies from a bottom-up perspective, the actual economic costs and benefits of adopting efficiency measures are also assessed in this study.

This study presents two modeling methodologies that evaluate both the technical and economic potential of raising China’s efficiency levels to the technical maximum across sectors and the subsequent carbon and energy emission implications through 2030. The technical savings potential by efficiency measure and remaining gap for improvements are identified by comparing a reference scenario in which China continues the current pace of with a Max Tech scenario in which the highest technically feasible efficiencies and advanced technologies are adopted irrespective of costs. In addition, from an economic perspective, a cost analysis of selected measures in the key industries of cement and iron and steel help quantify the actual costs and benefits of achieving the highest …