Energy Oil and Energy
China is the world's leading country in electricity production from renewable energy sources, with over double the generation of the second-ranking country, the United States. By the end of 2018, the country had a total capacity of 728 GW of renewable power, mainly from hydroelectric and wind power. China's renewable energy sector is growing faster than its fossil fuels and nuclear power capacity.
Although China currently has the world's largest installed capacity of hydro, solar and wind power, its energy needs are so large that in 2015 renewable sources provided only 24% of its electricity generation, with most of the remainder provided by coal power plants. In 2017, renewable energy comprised 36.6% of China's total installed electric power capacity, and 26.4% of total power generation, the vast majority from hydroelectric sources. Nevertheless, the share of renewable sources in the energy mix had been gradually rising in recent years.
China sees renewables as a source of energy security and not just only to reduce carbon emission. China's Action Plan for the Prevention and Control of Air Pollution issued by China's State Council in September 2013, illustrates the government's desire to increase the share of renewables in China's energy mix. Unlike oil, coal and gas, the supplies of which are finite and subject to geopolitical tensions, renewable energy systems can be built and used wherever there is sufficient water, wind, and sun.
As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped dramatically. Innovation has helped, but the main driver of reduced costs has been market expansion. In 2015, China became the world's largest producer of photovoltaic power, with 43 GW of total installed capacity. From 2005 to 2014, production of solar cells in China has expanded 100-fold. However, China is not expected to achieve grid parity – when an alternate source of energy is as cheap or cheaper than power purchased from the grid—until 2022. In 2017, investments in renewable energy amounted to US$279.8 billion worldwide, with China accounting for US$126.6 billion or 45% of the global investments. More details
China sees renewables as a source of energy security and not just only to reduce carbon emission. China's Action Plan for the Prevention and Control of Air Pollution issued by China's State Council in September 2013, illustrates the government's desire to increase the share of renewables in China's energy mix. Unlike oil, coal and gas, the supplies of which are finite and subject to geopolitical tensions, renewable energy systems can be built and used wherever there is sufficient water, wind, and sun.
As Chinese renewable manufacturing has grown, the costs of renewable energy technologies have dropped dramatically. Innovation has helped, but the main driver of reduced costs has been market expansion. In 2015, China became the world's largest producer of photovoltaic power, with 43 GW of total installed capacity. From 2005 to 2014, production of solar cells in China has expanded 100-fold. However, China is not expected to achieve grid parity – when an alternate source of energy is as cheap or cheaper than power purchased from the grid—until 2022. In 2017, investments in renewable energy amounted to US$279.8 billion worldwide, with China accounting for US$126.6 billion or 45% of the global investments. More details
