The IEA forecasts that, by 2030, China will make up over half of the world’s renewables.
Every decision we make today impacts the future of both our people and our planet.
As we tackle an abundance of issues, including resource depletion, social inequalities and climate change, making sustainable choices is vital in ensuring a viable future.
One change we can take to help craft a sustainable future is supporting the energy transition, the worldwide shift from fossil fuels to renewable energy.
The energy transition carries many benefits, including mitigating climate change, enhancing energy security, addressing resource depletion and meeting the growing energy demand.
By shifting to renewable energy sources such as wind and solar, we can improve the resilience of our planet to climate change and craft a sustainable, resilient and equitable future.
This transition is no longer an ideal — it is imperative.
The importance of the energy transition
Many influential nations are becoming pioneers in this energy transition.
In the IEA’s renewable energy report, China emerges as a leader in green energy expansion. The report states that, by 2030, the country will be responsible for more than half of the world’s renewables.
Due to China’s reduced reliance in coal and vast investments in solar infrastructure, the country is expected to make up 60% of renewable energy projects to come by 2030.
The IEA also explains how the energy transition will accelerate in the coming years due to the growing number of governments who are supporting renewable energy and as green energy costs decline.
The report predicts that 80% of new green energy globally will be driven by solar energy by 2030, in addition to greater investments in geothermal power, hydro and wind.
Dr Fatih Birol, the Executive Director of the IEA, says: “If I could sum this [trend] up in two words they would be: China, solar.”
IEA’s renewable energy report
The IEA’s renewable energy report delves into the global renewable energy trends, assesses the progress of renewable energy use and outlines ways in which the world can reach its energy security and climate goals.
The report can be used as a guideline for influential industry leaders, guiding policymakers and stakeholders on how they can craft a greener energy future.
The IEA’s renewable energy report for 2024 predicts that, by 2030, the global renewable energy capacity will expand 2.7 times.
This means it will exceed government targets by 25% but will fail to meet the goal to triple capacity.
China emerges as a leader in the growth of renewable energy, making up for 60% of global renewable capacity to be created. This is due to its vast investment in solar and wind power.
Solar energy is highlighted as a dominant force in the future, with 80% of renewable capacity growth by the end of the decade being down to new solar installations.
The future of solar
Even though wind energy has begun to face issues with supply chains, is still predicted to significantly contribute to the expansion.
Due to declining costs of renewables and supportive government policies, the reports explains how there is an increasing competitiveness of renewables.
Because of this, further private sector investments are being created and domestic manufacturing, especially in the US and India, is being developed further.
However, the report draws attention to challenges in the renewable field, such as supply chain bottlenecks, grid integration issues and the slow pace of development in renewable hydrogen and bioenergy.
The report emphasises that enhanced policy measures will result in greater adoption of renewable fuels and hydrogen.
In order for global renewable energy capacity to reach its full potential by 2030, greater efforts need to be made to solve these barriers.
This can be done reforming auction designs, improving the infrastructure of the grid and supporting renewable fuel and storage innovation.
The report spotlighted that the world will be able to nearly triple its renewable energy capacity by 2030 if the right policies are implemented and actions align with climate and energy security targets.
China’s journey with solar energy
Through vast investment, technological innovation and strong government support, China has emerged as a global leader in the production and application of solar energy.
The country consistently increases its solar energy capacity every year, making it the world’s largest producer of solar energy.
China is also home to several of the largest solar farms in the world, including the Tengger Dessert Solar Park. The park, which is often called the ‘Great Wall of Solar’, covers 1,200km and has the capacity to power around 600,000 Chinese homes
China produces more than 80% of the world’s solar PV panels, making it a global manufacturing hub for solar technology.
The country has an innovative mindset and are consistently discovering new ways in which they can improve the cost-effectiveness and efficiency of solar technologies, such as more efficient battery storage systems that can work alongside solar panels.
A key reason why China has evolved in a global leader in solar technology is the vast support it received from its government.
Through supplying financial incentives like low-interest loans and subsidies, solar energy has become an attractive options for local governments and energy companies to adopt in China.
The country has also ensured that they have integrated significant goals for the expansion of renewable energy in its 14th Five-Year Plan, including a a goal of 33% of electricity generation from renewables by 2025.
A global influence
China is an influential figure in the renewable energy field across the world. Through initiatives like the Belt and Road initiative, the country is helping to finance and build solar energy projects in developing countries.
In addition to this, China also exports solar panels and other technologies it has developed across the globe, resulting in the cost of solar energy falling and increasing the accessibility of this technology.
Overall, China’s adoption of solar energy has transformed the global solar markets. Through its consistent funding, sustained technological innovation and efficient government support, China has secured its position as the global leader in solar energy.
China’s embrace of solar energy has not only transformed its own energy landscape but has also shaped global solar markets.
With sustained investment, technological innovation, and strong government support, China is poised to remain a global leader in solar energy for years to come.
