China is rapidly cementing its position as a global leader in renewable energy, with recent data highlighting its significant contributions to the world’s green initiatives. Between 2015 and 2023, China’s installed renewable energy capacity soared from 480 gigawatts to an impressive 1,450 gigawatts. In 2023 alone, China added over 305 gigawatts of the 510 gigawatts of newly installed global renewable energy capacity, accounting for more than half of the world’s total.
The International Renewable Energy Agency emphasizes China’s pivotal role in reducing global costs of solar photovoltaics (PV) and onshore wind energy. From 2010 to 2022, the global weighted average cost of electricity dropped by 89 percent for solar PV and 69 percent for onshore wind, largely due to China’s large-scale investments and technological advancements.
Looking ahead, the International Energy Agency projects that China will contribute nearly 60 percent of the new renewable capacity expected to become operational globally by 2028. With an anticipated addition of 2,062 gigawatts between 2023 and 2028, China’s expansion is set to play a crucial role in achieving global renewable energy targets and combating climate change.
China’s commitment to renewable energy not only positions it as a key player in global environmental efforts but also sets a benchmark for other nations aiming to enhance their sustainable energy portfolios. As the world grapples with the challenges of climate change, China’s strides in clean energy offer a beacon of progress and collaboration.
Reference(s):
cgtn.com
