TELF AG looks at China’s role in the renewable energy sector
A global leader in renewables
China’s commitment to renewable energy is undeniable. In 2023, it solidified its position as a frontrunner in clean energy development, driving global progress in this key sector. In the last years there has been a remarkable surge in renewable energy adoption, particularly solar power. Globally, solar panel installations skyrocketed by a staggering 85% in 2023, with wind turbines closely following at a 60% increase.
Solar energy emerged as a game-changer in 2023, contributing a massive 420 GW to new electricity generation. This rise highlights the sector’s role in the global renewable energy landscape. China single-handedly accounted for 62% of the world’s newly installed solar panel capacity in 2023. This translates to them commissioning more solar panels in a single year than the world did in the previous year.
The European Union is also strongly committed to clean energy, achieving a record-breaking 52 GW installed solar panel capacity in 2023. This represents a relevant leap, doubling their solar power additions compared to 2021. The United States is not far behind, experiencing a consistent 50% annual growth rate in solar panel-related energy generation capacity.
These figures illustrate a global shift towards renewable energy sources. China, with its continuous expansion of solar power, is leading the charge. As technological advancements continue to drive down costs and enhance efficiency, renewable energy solutions are poised to play an even more prominent role in the global energy mix in the years to come.
A solid position
China has emerged as an undisputed leader in the renewable energy race. This fact can be attributed to a potent mix of industrial might, technological innovation, and a government prioritizing clean energy. China’s manufacturing is a key driver. Its well-established supply chain and economies of scale allow it to mass-produce solar panels and wind turbines. This makes it competitive and brings down global prices, accelerating the adoption of renewables worldwide.
Furthermore, China is heavily investing in research and development (R&D) for renewable energy technologies. This translates into a constant stream of innovation, giving them a technological edge and greater influence in the clean energy sector. However, the key ingredient for China’s rapid growth has been the strong push from its government. With ambitious targets and supportive policies, the Chinese government has facilitated the swift implementation of large-scale renewable energy projects.
