China is investing towards a greener energy initiative to reduce its own carbon footprint. President Xi Jinping speech at the opening of the Chinese Communist Party’s 20th National Congress in Beijing initiated a big shift in Chinese green policies.
“We should promote an in-depth energy revolution, enhance clean and efficient use of coal, accelerate the development of a new energy system, and get actively involved in global governance in response to climate change,” Xi said.
“We must stick to the philosophy that ’clear waters and lush mountains are our silver and gold.” Harmonious co-existence of human and nature should be a mission embedded in our development plans,” President Xi said.
President Xi said, “We should collectively promote decarbonization, pollution mitigation, afforestation, and reforestation. We need to prioritize ecosystem in our development, save our energy and resource, as well as facilitate green, low-carbon development,” .
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 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.
Chinese authorities are investing heavily in green energy. The country has become a world leader in solar and wind power, The renewables revolution enhances the global leadership of China.
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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