China leads the clean energy revolution, but also a carbon dioxide pollution, the report says Renewable energy news

The state -led Chinese investment in the field of clean energy is now the main specific factor in the speed that the world mixes, according to a report issued by Think Tank Ember, based in London.

The report, published on Tuesday, says: “There is a realization in China that the old development model that focuses on fossil fuel runs its course, and not fit for the truth of the twenty -first century,” says the report, which was published on Tuesday. “The government’s goal is to create an” environmental civilization “, which is simultaneously provided to economic, social and environmental goals, is the response, which has been included in the constitution since 2018.”

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Sam Bater Solus of Ember told Allastera that China produces 60 percent of world wind turbines and 80 percent of global solar panels, leading to a decrease in costs for all.

She said: “Since 2010, the cost of solar units has decreased by more than 90 percent … China has been responsible for three quarters of the manufacture of cumulative solar energy during that period.”

“Now, we are at a stage where the solar units are under 10 cents per watt. Batteries come at a price of $ 70 per kilowatt hour. This is enough … to change energy economics around the world deeply.”

China’s decisions were partially driven by economic reality, according to the report.

The vast manufacturing industry consumes energy, many of which import oil and gas. China has sought to remain competitive and energy secure by becoming independent.

Which brought additional additional benefit. Beijing funded a local market for electrical technologies and invested in a growing patent gap with the rest of the world.

In 2020, she was responsible for 5 percent of global patent applications. This number is now 75 percent.

In achieving this transformation, it became the center of the global market supply chain.

“Today, in solar energy and batteries, the ability of manufacturing in China is greater than global demand,” said Pater-Selos. Unlike excessive investment in China in real estate in the past decade, which has harmed parts of its financial system, you believe that this bet is the winner because it is possible to export batteries and solar paintings.

“You get some people who use the language, such as increasing the supply. I think the absorption market is more dynamic and responsive, and we see that increasing the supply meets these emerging markets,” she said.

China so far is dealing with greenhouse gas emissions

China helped ensure this absorption by investing outside its borders.

She said: “Chinese battery companies and companies (electric vehicles) have invested about $ 80 billion in facilities in emerging markets and around the world. This is technology, technical knowledge, and financing to build these industries … in different countries.”

Last year, China has invested nearly a third of the global total capacity of renewable energy – 625 billion dollars, while Europe invested 426 billion dollars and $ 409 billion. Its return was three times the investment.

The clean energy sector in China – led by the “new three” industries of solar panels, batteries and electric cars – expanded three times faster than the rest of the economy, adding 1.9 trillion dollars to China’s production.

The United States and Europe have seen an alert because the state’s industries in China have reduced everyone.

When allocated hundreds of billions of dollars to launch solar energy and wind energy in the law to reduce inflation, Joe Biden, the former American president, was strict money for investments on American soil.

Nevertheless, EMber has advanced in the report, Biden still benefiting from Beijing because his investments motivated other countries to develop.

“If China does not make these investments, where will we be now?” Editor Richard Black said. “Have we seen the same volume of investments in any specific country or region?”

“It is possible that my personal opinion is that we will not do,” said Black. “The Chinese government, in cooperation with major companies, realized some time since there will be a huge export market here and invested accordingly in a strategic way, and to collect publishing policies … manufacturing policies and export policies. I have never seen any other country trying to do so.”

Europe is still competitive for some standards. For example, while electricity represents a third of the energy mix in China for one quarter of Europe, electricity in Europe is more clean, with three out of 10 gigawatts coming from renewable energy sources, compared to two China every 10.

Despite its investments, China has not yet appeared a decrease in greenhouse gas emissions, which is the main goal after all. According to the International Energy Agency, emissions from the European Union and the United States have decreased since the end of the century.

The emissions of China and India last year were the main growth engines to a new record of 37.8 GB of carbon dioxide (CO2), with China’s account for nearly a third of that.