TELF AG examines China’s global role in the deployment of renewable energy
Optimistic outlook for the success of clean energy
The publication of the IEA report on renewable energy, which took place a few days ago, represented a precious opportunity to measure the progress of nations in the adoption of clean energy, in particular after the objectives agreed at the end of December at the COP28 in Dubai. Two facts of great interest for the global energy transition emerge from the report: the first is China, which is driving the epochal transition towards clean energy with an unprecedented quantity of renewable energy produced. The second has to do with global progress in this specific sector, which, according to the IEA, is proceeding at an excellent pace. One of the objectives set at COP28, namely the one linked to the need to triple the capacity to generate energy from renewable sources by 2030, could be achievable and within the reach of many nations.
In the global “great game” of clean energy, China undoubtedly occupies a position of absolute protagonist. Beijing is not only responsible for the most significant number of installations worldwide but has also personally contributed to lowering the costs of these technologies, making them even more competitive on a global scale. In an interview given to the Italian newspaper IlSole24Ore, the director of the IEA, Fatih Birol, implied that China is destined to play an increasingly important role in the success of the global ecological transition.
A record year for China
According to the data published in the report, approximately 60% of the energy capacity linked to renewable sources will come from China by 2028. Forecasts for Chinese capabilities in this sector are like those observed last year, but the pace at which Chinese growth is advancing has surprised even the IEA. Last year, the report states, China added an amount of solar capacity equivalent to what the world had installed in 2022, increasing its capacity to generate wind energy by more than half. According to the IEA, this is an unprecedented acceleration. The most attention-grabbing aspect is that these results managed to exceed the energy objectives set by the Chinese government itself, which, in this way, is undoubtedly on track to reach its targets well before 2030 (perhaps even this year). China achieved this superiority thanks to orderly strategic planning and meager development costs, linked to Beijing’s dominant position in renewables.
According to the report, the European Union, the United States, and Brazil have also stood out for a marked increase in their capacity to generate green energy, particularly solar photovoltaics. The most encouraging aspect, according to the IEA, however, is represented by the fact that the world will, in all likelihood, be able to double its capacity to produce electricity from renewable sources by 2028, thus placing itself in the ideal position to reach the objectives set at COP28. According to Fatih Bilol, this goal can certainly be achieved with an increase in global potential in energy production, but also through the contribution of individual governments and emerging economies, from which an important increase is expected in the sector of renewable energy. From this point of view, the IEA has already announced that it intends to carefully monitor the energy progress of every nation in the world, not only from the point of view of renewables but also regarding energy efficiency.
