China, often recognized as a major energy consumer and greenhouse gas emitter, stands at the forefront of the world’s energy transition, dominating renewable energy generation and export.
China’s Pivotal Role in Renewable Energy
China’s exceptional progress in renewable energy, spanning solar, wind, and hydropower, can be attributed to consistent post-2005 policies, driving innovation, production, and export.
Solar and Wind Energy Advancements
In the last two decades, China’s innovative policies have significantly reduced global solar and wind energy costs, making them competitive and often surpassing fossil fuels.
Global Impact of Chinese Innovations
China’s emphasis on renewable energy has globally lowered generation costs, facilitating the transition from fossil fuels to cleaner alternatives.
China’s Investment Dominance
In 2022, global renewable energy investment reached almost $500 billion, with China contributing a staggering 55%, investing $164 billion in solar and $109 billion in wind energy.
Unprecedented Solar and Wind Installations
China leads with 392 GW of operational solar plants, surpassing the rest of the world combined. In wind energy, China boasts over 310 GW, almost doubling its 2017 capacity.
Exceeding Targets with Efficiency
President Xi Jinping’s 2020 commitment to triple solar and wind capacity by 2030 appears on track for achievement, potentially surpassing targets by 2024.
Regional Breakdown of Renewable Energy
Major solar installations in Shanxi, Hebei, and Xinjiang total 52 GW, surpassing the entire US. Onshore wind energy is dominated by Inner Mongolia, Hebei, and Xinjiang.
Strategic Investment in Transmission
China’s significant investment in transmission lines ensures efficient use of solar and wind energy, with over 98% and 97% utilization rates, respectively, in August 2023.
Hydropower as a Key Player
China’s third pillar in renewable energy is hydropower, constituting 16% of national electricity production by 2020, with extensive investments domestically and globally.
Global Impact of Chinese Hydropower
Chinese enterprises’ construction of 320 hydropower dams in 140 countries, generating 81 GW, positions China as a dominant player in dam construction worldwide.
Addressing Energy Storage Challenges
Recognizing challenges in energy storage during periods of low solar and wind generation, China invests heavily in battery storage, targeting 100 GW by 2030.
Pumped Hydro Schemes for Stability
China leads in operational pumped storage capacities with 50.7 GW, aiming to reach 305 GW by 2035, contributing significantly to global pumped storage growth.
Factors Driving China’s Success
China’s remarkable progress results from unwavering high-level support, substantial research funding, timely policy interventions, and public backing for renewable energy.
Meeting Carbon Neutrality Commitments
President Xi’s commitments to peak carbon emissions before 2030 and achieve carbon neutrality before 2060 are well on track, promising positive global environmental impacts.
Source:chinadaily.com.cn
