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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]
The International Renewable Energy Conference (IREC) is a meeting of senior-level representatives, such as those from the Executive and Legislative branches of national or sub-national governments, international organizations, the finance and business community, or civil societies, working towards the advancement and integration of renewable energy in their countries.
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]
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]
The effort to drive the renewable energy use in China was further assured after the speech by the Chinese leader, given at the UN climate summit on 22 September 2009 in New York, pledging that China would plan to have 15% of its energy from renewable sources by 2019. China is using solar power in houses, buildings, and cars. [67] [68] [69]
China is the world's biggest emitter of greenhouse gases, releasing almost twice as much GHG as the second largest emitter, the US. China is also the world's largest investor in renewable energy – in 2018 it invested $126 billion, almost half of the $279 billion invested across the entire world. China has always taken climate change seriously ...
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]
Participants expressed a need to begin a swift transition to a more secure, sustainable renewable energy economy with the assistance of an international body. [10] The Founding Conference of the International Renewable Energy Agency was held in Bonn, Germany, on 26 January 2009. 75 countries signed the Agency's statute. The statute entered into ...