China
has played a pivotal role in driving down global renewable energy costs
through its technological advancements and expansive manufacturing
capabilities, a top energy official said on Friday, as the nation
showcased its dominant position in the world's green transition.
China, as the world's largest renewable
energy producer, has helped reduce the average cost of electricity for
global wind power projects by 60 percent and solar photovoltaic projects
by 80 percent over the past decade, said Wang Hongzhi, head of the
National Energy Administration.
Over the past decade, China has
cooperated with more than 100 countries and regions on green energy
projects, he said during the International Forum on Energy Transition
held in Suzhou, Jiangsu province on Friday.
Wind and solar photovoltaic products
produced in China alone reduced global carbon dioxide emissions by
approximately 2.65 billion metric tons in the past year, making a
significant contribution to the global green and low-carbon transition,
he said.
The International Renewable Energy Agency
has said previously that China's immense expansion in renewable energy
capacity is the reason clean energy is now affordable worldwide.
China holds a central position in the
global clean energy supply chain, specifically for solar PV modules,
battery cells, and balance-of-system components, which has led to
economies of scale, resulting in lower costs and faster worldwide
deployment, it said.
According to Wang, China's combined
installed capacity for wind and solar power now represents nearly half
of the global total, with new renewable energy installations accounting
for 60 percent of worldwide additions.
This surge has elevated the share of
renewable energy in China's total power generation capacity to
approximately 60 percent, he said.
"China has built the world's largest and
fastest-growing renewable energy system, becoming a leader and source of
innovation in energy technology," Wang added.
Yi Yuechun, deputy head of the China
Renewable Energy Engineering Institute, said China's comprehensive
R&D and manufacturing system for wind and solar provides
high-quality and efficient products and solutions for both domestic and
international markets.
China is injecting new momentum into
global green and low-carbon development by undertaking extensive and
high-level international energy cooperation, actively implementing the
Belt and Road Initiative, and profoundly participating in global energy
governance, he said.
Beijing will further intensify
institutional reforms and support the innovative development of new
business models like advanced energy storage and virtual power plants,
Wang said.
These measures will further foster efficient synergy between an effective market and a capable government, he added.
Editor:Leo
