This article is by: World Economic Forum
Read more about it here: China's lead in the global solar race - at a glance
In the space of 25 years, China will have gone from having virtually no solar panels to leading the world by a margin of more than 100%. China already has more solar capacity than any other country in the world, and is home to several massive solar farms. The country - the biggest clean energy investor in the world - is looking to dramatically increase the proportion of renewable energy in its power mix.
Estimates from Wood Mackenzie sees China’s photovoltaic panel installations hit a cumulative total of 370 GWdc (gigawatts in direct current) by 2024 - more than double the US’s capacity at that point. Moreover, China’s coal consumption has been steadily falling for some years, and alongside heavy renewables investment domestically and abroad, it has repeatedly pledged to cut back its use of dirty energy.
China’s growing renewable energy supply will allow it to become more energy independent, and, according to a report by the Global Commission on the Geopolitics of Energy Transformation and the International Renewable Energy Agency, will put it in a very influential position as the world’s renewable energy superpower. This will give China a competitive trading advantage and place it in a leading position when it comes to the manufacture of clean energy technology.
Your On-the-Ground People in China.
DISCLAIMER: Information in these blogposts are reposts of existing sources and is assumed to be accurate at the time of release.
Handpicked Group is not responsible for any losses or misinformation as these are not considered specialized advice. Information placed is to provide general information and updates.
Note that links to the original sources in older blog post may have expired.