Inject strong impetus into the global energy transition
According to the latest data released by the International Energy Agency (IEA), China will contribute more than half of the new installed capacity of renewable energy in the world by 510 million kilowatts in 2023. China has continued to deepen and make long-term contributions in the field of green energy, injecting strong impetus into the green and low-carbon transformation of the world's energy.
In recent years, China has given priority to the green and low-carbon transformation of energy, vigorously promoted the rapid development of renewable energy, and realized the transformation of renewable energy from following and running to leading in a short period of time. In terms of installed capacity, by the end of 2023, China's installed renewable energy power generation capacity exceeded 1.45 billion kilowatts. In terms of electricity, the total power generation capacity of renewable energy in 2023 will exceed 3 trillion kWh, which effectively guarantees energy supply and significantly reduces carbon emissions.
Behind the scale leadership is the hard support of independent innovation and the vivid practice of high-quality development. Since the 18th National Congress of the Communist Party of China, China has continuously promoted clean energy technology innovation, and many core technologies in photovoltaic, wind power and other industries have been launched by Chinese enterprises or put into large-scale use first. Thanks to technological progress, in the past 10 years, the cost of onshore wind power and photovoltaic power generation in China has decreased by 30% and 75% respectively, and the grid parity has been fully realized.
The energy transition is the only way to a green and sustainable future. While achieving its own clean and low-carbon development, China has also contributed China's solutions to the global energy transition and climate change, so that renewable energy can be applied globally and become the world's largest engine for energy transition.
Looking at production capacity, China has become the core driving force for the development of the global new energy industry. In terms of equipment manufacturing, it has built the world's largest, most complete and competitive clean energy industry chain and supply chain, and cultivated a number of world-class energy equipment manufacturing enterprises to meet the global demand for clean energy equipment. With the continuous development of large-capacity wind power units, high-efficiency crystalline silicon cells for photovoltaic power generation, perovskite cells, and heterojunction technology, China is promoting the further reduction of the cost of wind power and photovoltaic power generation, creating more rare opportunities for the rapid deployment of renewable energy in developing countries.
Looking at investment, China has become a "stabilizer" of the global energy market. According to Bloomberg New Energy Finance, China is the largest contributor to global energy transition investment, accounting for half of the world's total investment. In 2022, the total global investment in the energy transition exceeded US$1.1 trillion, of which China invested US$546 billion. In terms of the scale of overseas investment, China's major enterprises invested a total of US$31.1 billion in overseas renewable energy between 2015 and 2023.
Looking at emission reduction, China has become the "ballast stone" of the global response to climate change. In 2022, China's renewable energy power generation will directly reduce carbon emissions by about 2.26 billion tons, and the exported wind power and photovoltaic products will reduce carbon emissions by about 570 million tons for other countries, contributing a total of 41% to the carbon emission reduction of global renewable energy power generation.
During the recently concluded 28th United Nations Climate Change Conference, the participants highly recognized China's low-carbon energy transition concept and clean energy development achievements, and believed that the solutions provided by China provide an important direction for the global energy transition, and provide important, pragmatic and feasible solutions for all countries in the world, especially developing countries, to promote energy transition, accelerate economic development and improve the ecological environment, which is of great significance to global energy transition and climate governance.
China will continue to uphold the concept of harmonious coexistence between man and nature, solidly promote the energy transition, and make greater contributions to the global response to climate change.
