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This week, the Helsinki-based CREA said China's greenhouse emissions could start going into 'structural decline' as early as next year. WHAT'S AHEAD?Ĭhina's boom in renewable component building could lead to 'a huge price war' and industry consolidation in the next few years, said Alex Whitworth, vice president of power and renewables research at Wood Mackenzie.īut renewable momentum will continue, he said. and other countries trying to expand domestic production worry their manufacturers won't be able to compete.

While falling prices will accelerate the energy transition, analysts say, the U.S. Its massive production is driving solar component prices to all-time lows, according to price reporting agency OPIS. It can make 1,000 GW of solar modules each year, more than twice global demand. The country dominates the solar panel supply chain from end to end, exceeding 80% of manufacturing capacity in every stage, according to Rystad Energy. HOW IMPORTANT IS CHINA AS A RENEWABLES MANUFACTURER?Ĭhina is also the world's top supplier of renewable energy technologies, and will have more than 80% of the world's solar manufacturing capacity through 2026, according to forecasts from consultancy Wood Mackenzie. There have also been issues, as elsewhere, in integrating variable renewable power while managing supply and demand.

Utility-scale solar has been concentrated in western China, where abundant space and cheap power have spurred development of massive clean energy bases.Īctual renewable energy use lags behind the vast potential of China's solar and wind plants due in part to technical challenges involved in sending power across long distances to eastern population centers.

the world's second-largest energy consumer - produced about 60% of its electricity from fossil fuels in 2022. Despite China's global lead in renewables, it still generates around 70% of its electricity from fossil fuels, mostly coal, with thermal plants operating many more hours than renewable ones, according to official data.īy comparison, the U.S.

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