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The country is the world's largest investor in renewable energy, with the country's companies accounting for four of the world's five biggest renewable energy deals made in 2016. [14] In 2017, investments in renewable energy amounted to US$279.8 billion worldwide, with China accounting for US$126.6 billion or 45% of the global investments. [15]
China produced 31% of global renewable electricity, followed by the United States (11%), Brazil (6.4%), Canada (5.4%) and India (3.9%). [1] Renewable investment reached almost $500 billion globally in 2022, [2] amounting to 83% of new electric capacity that year. [3] The renewable energy industry employs almost 14 million people. [4]
In 2023, China's total installed electric generation capacity was 2.92 TW, [4] of which 1.26 TW renewable, including 376 GW from wind power and 425 GW from solar power. [3] As of 2023, the total power generation capacity for renewable energy sources in China is at 53.9%. [5] The rest was mostly coal capacity, with 1040 GW in 2019. [6]
In 2023, China completed the world's largest hydro-solar power plant in Sichuan, which utilises the consistency in hydropower production to offset the variability in solar power. [6] [7] Solar power contributes to a small portion of China's total energy use, accounting for 3.5% of China's total energy capacity in 2020. [8]
According to the China Renewable Energy Engineering Institute, one of the top think tanks in China when it comes to renewable energy, the country will grow its renewable energy infrastructure of ...
Hydroelectricity is currently China's largest renewable energy source and the second overall after coal. [1] According to the International Hydropower Association, China is the worlds largest producer of hydroelectricity as of 2021. [2]
China alone had over 40% of the world's capacity in 2023. [3] Wind power is used on a commercial basis in more than half of all the countries of the world. [4] Denmark produced 58% of its electricity from wind in 2023, a larger share than any other country. Latvia's wind capacity grew by 75%, the largest percent increase in 2022. [3]
From 2024 to 2030, the International Energy Agency (IEA) expects the world to add over 5,500 gigawatts of new renewable energy capacity. That would be nearly triple the capacity that was added ...