Benefits to Region: The United Nations′ Intergovernmental Panel on Climate Change (IPCC) agrees that continued emissions of greenhouse gases, such as those produced by thermoelectricpower plants, will lead to increased global warming. The effects are already visible. They include heavy rainfall, floods, severe droughts, increased forest fires, melting polar ice caps, loss of biodiversity, and increased costs for all economies to deal with these impacts.
Global warming could be slowed by deep, rapid, and sustained reductions in greenhouse gas emissions, for example by retiring or retrofitting thermal powerplants. In this regard, about two-thirds of APEC economies plan to retire coal-fired power plants by 2030 and 2040 (Australia; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Malaysia; Mexico; New Zealand; Russia; Korea; Singapore; Thailand; and the United States), and nine members are in the process (Australia; Canada; Chile; China; Hong Kong, China; Japan; Russia; Singapore; and the United States). Conversion of this type of facility allows the reuse of existing infrastructure ,helps to sustain local economies, and retains some of the workforce. This reduces environmental, economic, and social impacts.
The project will enable APEC economies to re-engage, share knowledge, innovate, and develop technical skills on the experiences, challenges, and opportunities associated with retrofitting thermoelectric power plants with ESS through a two-day face-to-face seminar in Santiago, Chile, and a summary report. This information will be helpful for economies that have not yet started the process, as well as for those economies that are well advanced. Indeed, economies will be able to develop technical knowledge to improve or create their policies and/or regulations based on the experiences of others. In addition, the project can help to develop new business opportunities among APEC members.
Eligibility and Fund Priorities: The project is in line with the priorities of the APEC “Energy Efficiency, Low Carbon and Energy Resiliency Measures” (EELCER) Support Fund by enabling and increasing the share of renewable energy by improving the security and stability of the electricity supply through ESS. At the same time, economies will have more tools to achieve the energy transition by retrofitting coal-fired power plants, improving the security and stability of the electricity supply, reducing greenhouse gas emissions, and thereby minimizing the impact of climate change.
The project also develops capacity building, facilitates technology and information flows, and harnesses future technologies through the economies' experience in implementing ESS for thermoelectric power plant retrofits. As noted above, more than two-thirds of APEC economies have plans to retire thermoelectric power plants, which will require various measures to enable the electricity system to operate based on renewable energy sources.
Capacity Building: The seminar will provide a formal opportunity that allows for face-to-face interaction and networking among experts and participants. Attendants from APEC economies will acquire, share, strengthen, maintain, and develop knowledge to improve their policies and regulations related to the conversion of coal-fired power plants to ESS. In addition, a summary report of key findings and recommendations will be published on the APEC website.
More than two-thirds of APEC economies have plans to retire coal-fired power plants by 2040, and seven of these economies are considered APEC developing economies. More than two-thirds of APEC economies have plans to retire coal-fired power plants by 2040, and seven of these economies are considered APEC developing economies (Chile; China; Indonesia; Malaysia; Mexico; Thailand; and Russia). For this group, the importance of coal as a fuel for power generation varies from more than 70%(Malaysia) to 18% (Russia). All these developing economies will benefit from the project.
The summary report will provide guidance for the transition to decarbonization, allowing each economy to move at its own pace. It is important to note that the project is not intended to be prescriptive, but rather a tool that can be used as a reference for the development of public policies and regulatory adjustments. At the same time, APEC members who do not plan to retire power plants may be interested in developing policies and regulations to address this issue. In terms of APEC's capacity-building objectives, all of the above APEC economies, as well as those members that produce ESS, can benefit from the project as it promotes innovation, and equitable development and reduces economic disparities by democratizing access to information. It also deepens the sense of community as it is an event in which all APEC economies can participate. The project can create new business opportunities; and, in the case of the conversion of coal-fired power plants, it can improve the long-term economic and social welfare of the population by providing an alternative use for existing infrastructure and reducing emissions. Finally, the project will be inclusive and will not discriminate against participants on the basis of gender, ethnicity, age, sexual orientation, disability, or socioeconomic status.
