Fueling Global Green Transition
China, cognizant of climate change challenges, leads the shift to green energy, excelling in renewable energy sectors according to insights shared with China Daily by three experts.
Global Leadership in Renewable Energy
Contrary to common perceptions, China stands as the global frontrunner in nearly every facet of renewable energy—generation, production, manufacturing, and export. This leadership is a result of unwavering commitment and consistent policies post-2005 that fostered a thriving environment for renewable energy.
Progress in Solar, Wind, and Hydropower
China’s remarkable progress in solar, wind, and hydropower generation over the past two decades is attributable to innovative policies. These strides significantly reduced global costs of solar and wind energy, making them competitive with, and often cheaper than, fossil fuels.
Unmatched Investment in Renewable Energy
China’s commitment to renewable energy is reflected in its substantial investments. In 2022, global investment in renewable energy nearly reached half a trillion dollars, with China contributing 55%, investing $164 billion in solar and $109 billion in wind energy—more than the US and Europe combined.
Solar and Wind Dominance
By the end of 2022, China had installed a staggering 392 gigawatts of operational solar plants, surpassing the rest of the world combined. In onshore and offshore wind energy, China’s 310 gigawatts outpaced the top seven countries combined, showcasing its remarkable achievements.
Efficient Solar and Wind Energy Use
China’s commitment extends to efficient use, with 98.8% of solar energy and 97.8% of wind energy generated in August 2023 being utilized. This highlights China’s prowess in maximizing the output of solar and wind energy.
Hydropower’s Role in Renewable Mix
Hydropower is a vital component of China’s renewable energy mix, constituting 16% of total national electricity production by the end of the 13th Five-Year Plan in 2020. China’s investments in hydropower extend globally, with Chinese enterprises responsible for 70% of the global market in dam construction.
Investing in Energy Storage Technologies
Acknowledging challenges in storing solar and wind energy during low generation periods, China is investing heavily in research and development. Plans include reaching 100 gigawatts of battery storage by 2030 and expanding pumped storage capacities to 305 gigawatts by 2035.
Unprecedented Progress: Policy and Public Support
China’s unparalleled progress in renewable energy results from strong policy support, substantial funding for research and development, and public backing. The public, witnessing improved air quality, supports the nation’s efforts to reduce carbon emissions.
Meeting Environmental Targets
President Xi’s commitments, including peaking carbon emissions before 2030 and achieving carbon neutrality before 2060, are on track. With China consistently meeting environmental targets ahead of schedule, the likelihood of achieving carbon neutrality before 2060 appears promising.
In conclusion, China’s proactive stance and substantial strides in renewable energy mark a pivotal contribution to global environmental sustainability.
Source:usa.chinadaily.com.cn
