China has cemented its position as the world's largest investor in energy transition, contributing significantly to a cleaner and more sustainable global energy landscape. According to a white paper released by China's State Council Information Office on Thursday, the nation invested a staggering $676 billion in clean energy in 2023 alone.
Titled \"China's Energy Transition,\" the white paper highlights the country's remarkable achievements over the past decade and outlines future plans to further adopt sustainable energy systems. China's advancements in renewable energy technologies have not only reduced global costs for wind and photovoltaic power but also enabled other nations to decrease their carbon dioxide emissions by approximately 810 million tonnes through technology exports in 2023.
Since 2013, China has been a major driver of global renewable energy capacity growth, accounting for over 40 percent of the annual increase. In 2023, more than half of the world's newly installed renewable energy capacity was added in China, positioning the country as a front-runner in the renewable sector. The International Energy Agency’s \"Renewables 2023\" report acknowledges China as a pivotal force behind the rapid expansion of renewable energy worldwide.
From 2014 to 2023, the global share of non-fossil fuels in energy consumption rose from 13.6 percent to 18.5 percent, with China contributing 45.2 percent to this growth. Domestically, China's clean energy consumption surged to 26.4 percent by 2023, up from 15.5 percent a decade earlier. Simultaneously, coal consumption decreased by 12.1 percentage points, highlighting a significant shift towards greener energy sources.
By the end of 2023, China's total installed power generation capacity reached 2,920 gigawatts, with 58.2 percent derived from clean energy sources. Clean energy accounted for 39.7 percent of China's total electricity generation, a notable increase of around 15 percentage points since 2013. This trend underscores the expanding role of green energy in China's overall energy mix and its commitment to driving global sustainability efforts.
Reference(s):
cgtn.com
