That number is improbably low. Transmission losses from local power plants to consumers is on the order of 10%.

Cite, please?

That's the number quoted in wikipedia [1] for HVDC power transmission. I.e. it only applies for long distances, not short distances.

China's been building a bunch of these at those kinds of distance . The technology definitely works.

[1] https://en.wikipedia.org/wiki/High-voltage_direct_current#Ad...