According to IEA , Global clean energy investment is starting to pick up and is expected to exceed USD 1.4 trillion in 2022, accounting for almost three-quarters of the growth in overall energy investment. The annual average growth rate in clean energy investment in the five years after the signature of the Paris Agreement in 2015 was just over 2%. Since 2020 the rate has risen to 12%, well short of what is required to hit international climate goals, but nonetheless an important step in the right direction. The highest clean energy investment levels in 2021 were in China (USD 380 billion), followed by the European Union (USD 260 billion) and the United States (USD 215 billion).
China is now global powerhouse in clean energy production and investments. China is beginning to serve as a center for global technological innovation, and green innovation from China could play a crucial role in the global transition to a low-carbon economy. Green Innovation, great shift to embrace green energy growth is great news for the cleaner world.
China has invested $380 billion n in clean energy in 2021, more than any other country in the world. The world’s largest investor in green energy has proven that solar and wind projects can be built at a massive scale and rapid speed.
Chinese government and their companies now dominate many of the clean energy industries that the as world is finally embracing in the fight against climate change.
China is also boosting renewable energy production as it attempts to meet climate goals and also reduce dependency on external energy supplies. The country is set to install a record 156 gigawatts (GW) of wind turbines and solar panels by the end of 2022.
This represents a 25% jump from the previous record set in 2021, according to Bloomberg, which reports that China added around 35 gigawatts of wind and solar capacity in the first half of 2022. More is expected as authorities and the private sector attempt to meet annual targets.
China would build “the largest” scale of solar and wind power generation capacity “in history”. He referred to the second “batch” of mega clean energy bases, which will contain large wind and solar farms with a combined installed capacity of 455 GW and are mainly located in the Gobi and other deserts. Projects accounting for 200 GW are scheduled to be completed by 2025, with 150 GW to be sent to the more populated eastern coastal provinces. The rest of the 255 GW is planned to be completed by 2030, with 165 GW expected to be exported.
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