China's Solar Power Expansion Accelerates Despite Slowdown
China, the world's largest emitter of greenhouse gases, is rapidly expanding its solar energy capacity despite a slowdown in 2018. The Beijing-based Asia Europe Clean Energy (Solar) Advisory projected a decrease from 53 GW in 2017 to between 40 and 45 GW by the end of 2018.
Despite ongoing investments in coal, China remains the largest investor in renewable energy globally. In 2017, over half of global renewable energy investment came from China. This commitment is reflected in its rapid adoption of solar power, faster than any other country worldwide.
The National Energy Administration (NEA) announced plans in early 2018 to build 10 gigawatts of new photovoltaic installations, prioritising companies in this sector. This followed a 22 percent increase in new solar photovoltaic capacity in the first quarter of 2018, reaching nearly 10 gigawatts. However, the United States' 30 percent tariff on Chinese solar panels in January 2018 may have contributed to the projected decrease in 2018 installations.
To ease the burden on renewable energy generators, the NEA also announced plans to reduce the financial strain on these companies. This move could further boost the renewable energy sector in China.
China's commitment to renewable energy, particularly solar energy, remains strong despite fluctuations in installation rates. As the world's largest emitter of greenhouse gases, China's transition to cleaner energy is crucial. The country's ongoing investments and supportive policies indicate a continued focus on renewable energy, with potential expansion into markets like electric buses.
Read also:
- Munich Airport Unveils Its New Electrical Vehicle Charging Parksite
- 74% of Drought-Prone Regions at Risk by 2100: Urgent Climate Action Needed
- Meteorologist Predicts Major Hurricane for Northeast U.S. by 2030
- Vehicle electrification and bidirectional charging technologies could potentially reduce EU energy expenses by a staggering €22 billion annually by the year 2040.
