Report reveals China constructing double the global rate of renewable energy infrastructure for wind and solar power.

A recent report by Global Energy Monitor (GEM), an NGO, has revealed that China currently leads in terms of wind and solar power construction projects on a global scale. As per their findings, China has 180 gigawatts (GW) of utility-scale solar power under construction along with 15 GW of wind energy. This amounts to a total of 339GW in the pipeline, surpassing the US's current 40GW projects by more than double.

The study focused on solar farms with a capacity of 20MW or higher, directly feeding into the grid. However, it is important to note that smaller scale solar farms account for approximately 40% of China’s total solar power. The report highlighted an escalation in renewable energy production within China, driven primarily by significant government support.

This growth coincides with President Xi Jinping's emphasis on "new quality productive forces", including green manufacturing as part of his vision to pivot towards technology and innovation. Consequently, between March 2023 and March 2ited by an increase in renewable energy projects, China is set to reach a total installed wind and solar capacity of 1,200GW by the end of 2024 - six years ahead of its own targets.

However, analysts warn that meeting emission reduction goals requires further expansion in renewable energy capacities. The current growth pace isn't sufficient to reach China’s target of reducing carbon intensity by 18%, which involves lowering the amount of CO2 released per kilowatt-hour of electricity produced.

To meet its objective of generating 25% of all power from non-fossil sources, projections suggest a need for between 1,600GW to 1,800GW wind and solar energy capacity by 2030. Between 2020 and 2023, only 30% of the growth in energy consumption was met through renewable sources, falling short of a targeted increase to 50%.

China's reliance on coal power remains significant, despite recent pledges to restrict new coal power plants. The nation continues to grapple with balancing its economic interests and efforts towards clean energy growth. Analysts stress the need for improved storage solutions and grid flexibility to manage China's burgeoning renewable infrastructure effectively.

The report also emphasized that despite other nations struggling to catch up, China has made remarkable progress in executing planned renewable projects. This marks a significant shift from just three years ago when global construction rates stood at around 7%.