China's Clean Energy Growth is Not Bad [Now, It's a Climate Crisis]
Last year, clean energy recorded a record 10% of China's GDP. The clean energy sector is estimated to have recorded sales and investment of 13.6 trillion yuan (1.5 trillion pounds, 1.9 trillion dollars), surpassing real estate sales.
Solar energy, electric vehicles (EVs), and batteries have played a major role in the rapid growth of China's clean technology. In Korea, domestic companies are also taking a hit due to China's low-cost solar power.
BYD electric vehicles. [Photo = BYD]
In this situation, Chinese electric vehicles have recently been sold domestically and are spreading worldwide.
Carbon Brief, which conducted this analysis, conducted the research based on official statistics, industry data, and analysis reports. The clean energy sector was broadly defined as △renewable energy △nuclear power △power grid △energy storage devices △electric vehicles and railways.
Electric vehicles and vehicle batteries were estimated to have accounted for the largest portion of China's clean energy economy last year, accounting for about 39% of the total.
Simon Evans of Carbon Brief explained the background in an interview with the Guardian, saying, "China has been investing heavily in this sector for a long time," and "The scale and speed of this may surprise many, but in fact, China has been developing the electric vehicle industry for a long time." He continued,
"This is a deliberate and strategic move by China," and diagnosed, "China is a major crude oil importer, so it may have been intended to operate domestic vehicles without importing crude oil in order to improve energy security and foreign exchange balance."
Experts predict that it remains to be seen whether the clean energy sector, which has made such leaps forward, will continue to grow. Experts pointed out that it depends on the goals and policies included in China's new five-year economic and social development plan, which will be implemented in 2026.
Evans said, "China's clean energy growth looks very likely to continue," adding, "Following the U.S. presidential election results, many people are considering the impact of global climate change, and China made it clear at the UN Climate Change Conference (COP29) that it will continue to pursue clean energy growth."
However, he assumed that China's clean energy technology development is not for "justice reasons (such as the purpose of actively responding to climate change)," but for its own national interests.
"China thinks it makes financial sense, and has invested heavily in developing these industries," Evans added. "Even as Donald Trump in the U.S. backs off on climate change policies, China is expected to continue to increase its share of clean energy."
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