Like the US, China has set a goal of achieving carbon neutrality in its economy by 2050. Recent developments in China's energy sector show that it is systematically moving towards this goal.

According to the Global Energy Review 2023, the share of renewable energy sources (RES) in China's electricity supply has reached 49.9% - equivalent to about 1.4 terawatt (TW). Of which, solar energy accounts for the largest proportion, followed by hydropower plants and wind turbines.

In 2023 alone, China put 190 GW of renewable energy capacity into operation, up 91% over the same period in 2022.

These results confirm that China is now one of the world leaders in the field of renewable energy.

China's advantage in this field stems from its possession of integrated manufacturing facilities and abundant raw materials, as well as the Chinese government's support for the country's renewable energy development programs.

Notably, in 2023, China accounted for nearly 40% of total investment in the construction of energy storage stations globally, equivalent to a value of about 8 billion USD.

(according to OL)

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