As the world grapples with climate change, China emerges as a front-runner in renewable energy, making unprecedented strides in solar, wind, and hydropower.
Global Leadership in Renewable Energy
While China is widely recognized as a major greenhouse gas emitter, few are aware it leads globally in renewable energy generation, production, manufacturing, and export.
Driving Down Costs Globally
In the past 15 years, China’s innovative policies have significantly reduced global solar and wind energy costs, making them competitive with, and often cheaper than, fossil fuels.
China’s Remarkable Achievements
By the end of 2022, China installed 392 GW of solar plants, surpassing the rest of the world combined. In onshore and offshore wind energy, China’s 310 GW doubled since 2017.
Energy Efficiency and Utilization
Investments in transmission lines ensure efficient use of solar and wind energy, with 98.8% of solar and 97.8% of wind energy generated utilized in August 2023.
Hydropower as a Key Player
Hydropower, a major component of China’s renewable mix, constituted 16% of total national electricity production by the end of 2020.
Global Impact of Chinese Enterprises
Chinese enterprises, responsible for 70% of the global market in dam construction, have built 320 dams in 140 countries, contributing to global water, energy, and food security.
Addressing Renewable Energy Constraints
China focuses on energy storage solutions, planning to achieve 100 GW of battery storage by 2030 and leading in pumped hydro schemes, ensuring reliable power supply.
China’s Carbon Neutrality Commitment
President Xi Jinping’s commitment to peak carbon emissions by 2030 and achieve carbon neutrality by 2060 reflects China’s dedication to addressing climate change and global environmental concerns.
Source:chinadaily.com.cn
