China has solidified its position as the world's renewable energy powerhouse, driving over 50% of global capacity growth in 2024 despite rising trade tensions, according to a new International Renewable Energy Agency (IRENA) report. The findings highlight Beijing's accelerating efforts to meet its dual carbon goals while supplying affordable low-carbon technologies worldwide.
IRENA Director-General Francesco La Camera told CGTN that China's manufacturing scale and technological innovation remain critical to achieving global climate targets. "The energy transition isn't slowing down," La Camera emphasized during the interview, noting that Chinese advancements in solar, wind, and energy storage systems have reduced costs by 30-40% over the past five years.
Analysts suggest China's renewable exports could reshape energy geopolitics, particularly in developing Asian markets. The report coincides with increased investments in Southeast Asian solar projects and Central Asian wind farms utilizing Chinese technology.
While trade disputes over green tech subsidies continue between major economies, IRENA's data shows renewable capacity additions grew 15% year-on-year in Q1 2024. Over 60% of this growth occurred in Asia, with China installing the equivalent of Spain's entire power grid in renewable infrastructure during this period.
