CHINA become the number one country in the world that has successfully managed and invested in clean and environmentally friendly energy for several years. They have also managed to make the transition to an era of better, sustainable, secure and inclusive energy.
Quoted from Gizchinaon Tuesday (5/9/2023), large companies in the United States are still far behind China in producing energy from solar, wind, nuclear and other renewable energy.
Bloomberg data shows China dominates the clean energy market. Last year they ranked first with revenues of US$707 billion.
The Bamboo Curtain country has an overwhelming lead over the United States in second place, with an income of 398 billion in 2022. So how can China get it all?
In the same source it is stated that China has invested heavily in environmentally friendly energy, which will cost $546 billion in investments in 2022. This financing is used for solar and wind energy, electric cars and batteries.
This financing is almost four times the amount of US financing, which amounted to US$141 billion. China also dominates low-carbon manufacturing. And it accounted for more than 90% of the $79 billion invested in the sector last year.
The key to China’s success
There are several factors contributing to China’s success in the clean energy market. One of the main factors is the government’s commitment to clean energy.
The Chinese government has prioritized measures, laws and policies to reduce the use of coal and develop renewable energy, particularly solar and wind energy.
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