China dominates recent global green transformation

China has recently dominated green transition progression worldwide, Xinhua News Agency reported, citing an opinion article published by The New York Times.

"When you look at the world outside of China, those eye-popping global curves flatten out considerably -- green energy is still moving in the right direction, but much more slowly," noted the article published on September 16.

Specifically, the global installed solar power capacity amounted to 425 GW in 2023, comprising 61.88% in China and only 7.76% in the United States, according to the article.

From 2019 to 2023, China hiked its newly added capacity over eight times, yet the world without China didn't even double its rate, said the article.

Moreover, almost two-thirds of the world's big solar and wind plants being built this year are estimated to be in China, which is deploying green energy at more than eight times the scale of any other country in the world.

China is also contributing to green transformation of other countries, stated the article. "In 2022, roughly 90 percent of the solar wafers and solar cells produced in the world were Chinese -- by some measures more than twice as many as the rest of the world was even ready to install."

"Today, U.S. policymakers are throwing up green-tech tariffs to protect American clean-energy industries -- a sign that, measuring by price point, we are already losing that race, in addition to losing it as measured by rate of deployment," said the article.

China is wagering an immense amount of its future on nascent energy technologies -- and racing well ahead of the global promises it has made about its own transition pace.

"This year, for instance, China hit its 2030 target for total renewable energy six full years early. In the United States, we seem perhaps more focused on artificial intelligence," according to the article.

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