China's green ambition will make it a new energy industry world

2019-10-23 14:28

Renewable energy is gaining popularity in China. China's investment in solar energy, wind energy and other clean energy technologies surged from US $8 billion in 2005 to US $103 billion in 2015. China currently invests more money in developing renewable energy than the United States and Europe combined.

According to the report on the website of New Scientist on September 13, most of these investments are domestic, but China is now focusing on selling its own green technology to other countries. While pursuing the "US first" strategy and praising the "beautiful clean coal", China is looking for ways to cope with climate change together with other countries.

According to the report, China is very suitable to take the lead in promoting the development of clean energy. Its strong manufacturing industry means that it can produce millions of cheap solar panels and tens of thousands of wind turbines every year. At present, five of the world's six largest solar panel manufacturers are in China. Half of the top ten wind turbine manufacturers are in China. Greenpeace estimates that China can install one less wind turbine per hour.

According to the report, such capabilities enable Chinese enterprises to turn their attention to the international energy market in recent years. According to the World Resources Institute, from 2002 to 2012, China invested less than 124 solar and wind energy projects in 33 countries. Since the "the Belt and Road" initiative was announced in 2013, the development of renewable energy projects has accelerated in countries participating in the initiative.

According to the report, China also aims to connect the green energy transmission network with neighboring countries. Last year, it launched talks with Russia, Japan and South Korea to discuss the establishment of a super clean energy grid. This will allow the four countries to share their solar, wind and water energy, and balance each other's clean energy supply when there is no sun or wind.

Ma Tianjie of Sino-foreign Dialogue, an independent environmental protection non-governmental organization based in Beijing, said: "In the past 10 years, the Chinese government has given strategic importance to investment in the field of clean energy, because it believes that this is the next industrial revolution - a revolution it wants to play a role."

The Institute of Energy Economics and Financial Analysis, based in Sydney, Australia, also thinks so. "China wants to dominate the future industry, while the US and Australian governments want to dominate the past industry," he said

China's clean energy sector will eventually defeat its fossil fuel competitors for several reasons.