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China leads in worldwide deployment of renewable energy
China has emerged as a leader in the global rollout of renewable energy, with its ambitious plans and investments in the sector. The country has been taking bold steps to transition from fossil fuels to cleaner sources of energy, and the results are impressive.
According to a report by the International Energy Agency (IEA), China accounted for almost 40% of the global growth in renewable capacity in 2020. The country added 136 GW of renewable energy capacity last year, which is more than the total installed capacity of the entire United Kingdom.
Key Takeaways
- China has almost as much utility-scale wind and solar capacity in operation as the rest of the world combined, highlighting its dominance in renewable energy.
- China is likely to surpass its own ambitious renewables target of 1200GW by 2030, with a potential to achieve and even surpass this goal.
- While China has made significant progress in renewable energy, the majority of its power still comes from fossil fuels, emphasizing the need for further transition to clean energy sources.
One of the key drivers of China’s renewable energy push is its commitment to reducing greenhouse gas emissions and combating climate change. The country has set a target of reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060. To achieve these goals, China is investing heavily in renewable energy technologies such as wind, solar, and hydropower.
China’s renewable energy targets are likely to be surpassed, with 750GW of prospective projects in the pipeline. China has invested heavily in renewable energy and has implemented various incentives and measures to support its rollout. T
he leading regions for solar and wind developments in China are concentrated in the northern and northwestern provinces. However, foreign investors face challenges in accessing favorable financing and navigating the permitting process. Despite its progress in renewables, China still heavily relies on fossil fuels for electricity generation.
China has almost as much utility-scale wind and solar capacity in operation as the rest of the world combined, according to Global Energy Monitor (GEM). The country has 228GW of operating utility solar capacity and 310GW of operating utility wind capacity.
China’s dominance in the renewable energy sector is also being felt in the global market. Chinese companies are now among the world’s leading manufacturers of solar panels and wind turbines, and they are exporting these products to countries around the world. This has helped to drive down the cost of renewable energy technologies and make them more accessible to people in developing countries.
However, China’s rapid expansion in the renewable energy sector has not been without challenges. The country’s grid infrastructure has struggled to keep up with the growth in renewable energy capacity, leading to curtailment and wasted energy. There have also been concerns about the environmental impact of large-scale hydropower projects, which can displace local communities and harm wildlife.
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