Report: China Constructing Two-Thirds of Global Wind, Solar Power
According to a report published by the US-based think tank Global Energy Monitor on Thursday, China is building 339 gigawatts of wind and solar power facilities....
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Facts
- According to a report published by the US-based think tank Global Energy Monitor on Thursday, China is building 339 gigawatts of wind and solar power facilities.1
- This is 64%, or nearly two-thirds, of the world's ongoing capacity build-up and over eight times higher than the second-place US, which is building 40 gigawatts.2
- According to the report, China's momentum puts the world's aim to triple renewable capacity by the end of 2030 'well within reach.' Beijing could also meet its target of installing 1.2K gigawatts of wind and solar in July — six years early.3
- Furthermore, China installed more solar panels between March 2023 and March 2024 than it had in the three previous years combined.1
- The report comes after the world's largest solar farm, a five-gigawatt, 200K-acre facility in Xinjiang, came online on Monday.4
- In January, industry group China Electricity Council's annual report had forecast that the PRC's wind and solar capacity would overtake coal for the first time by the end of 2024.5
Sources: 1Guardian, 2Reuters, 3RAPPLER, 4Asia Financial and 5Mining.
Narratives
- Anti-China narrative, as provided by Ft. China's rapid expansion into green energy is marred by significant challenges, like forced labor in Xinjiang producing cheap polysilicon for solar panels and coal-powered factories manufacturing 'clean' energy technology. Their true carbon and labor costs undermine China's green claims. Given the country's dominance in the market, decoupling from China will be difficult for the world.
- Pro-China narrative, as provided by Energy Monitor. By achieving its renewable energy targets ahead of schedule, China is setting a remarkable example for the world in the green energy transition race. Over the past year, the world's largest greenhouse gas emitter has become a prime investment destination for wind, solar, and nuclear power. Despite initial flaws, China's emissions trading system shows its commitment to reducing pollution.
