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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 Integrated Energy China Integrated Energy, Inc. is a leading non-state-owned, integrated energy company in China engaged in three business segments: the wholesale distribution of finished oil and heavy oil products, the production and sale of biodiesel, and the operation of retail gas stations.
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]
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]
China is the country with the largest consumption of electricity as of 2011. China's Twelfth Five-Year Plan (covering the period 2011 to 2015) provided for the development of an ultra-high-voltage (UHV) transmission corridor to increase the integration of renewable energy from the point of generation to its point of consumption. [4]: 39–41
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]
From 2006 to 2017, sulphur dioxide levels in China were reduced by 70 percent, [8] and air pollution has decreased from 2013 to 2018 [8] 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. [9]