On October 23, 2024, at the Third "Belt and Road" Energy Ministers' Conference in Qingdao, China made a stunning announcement. Zhang Jianhua, Director of the National Energy Administration, revealed that China has built a complete new energy industrial chain system with unrivaled international competitive advantages.
On October 23, 2024, at the Third "Belt and Road" Energy Ministers' Conference in Qingdao, China made a stunning announcement. Zhang Jianhua, Director of the National Energy Administration, revealed that China has built a complete new energy industrial chain system with unrivaled international competitive advantages.
China is now responsible for more than 80% of the world's photovoltaic modules and 70% of wind power equipment. This remarkable achievement has not only transformed the global energy landscape but also set new standards for sustainable development.
In the past decade, China has been a driving force behind the reduction of average levelized costs for global wind and solar projects. Costs for wind projects have dropped by more than 60%, while solar projects have seen an astonishing 80% reduction. Chinese wind and solar products now reach over 200 countries and regions, providing a rich source of green energy and contributing significantly to the global transition towards cleaner sources.
Domestically, the new energy industry has experienced explosive growth. By the end of 2023, China's installed capacity for wind and solar power had increased tenfold compared to a decade ago. Clean energy generation capacity now accounts for 58.2% of the total installed capacity, and clean energy consumption has risen from 15.5% to 26.4% of total energy consumption.
China has also established a comprehensive research design and integrated manufacturing system for wind power and photovoltaics. High-efficiency crystalline silicon and perovskite PV cells have continuously set new world records for conversion efficiency. Mass-produced advanced crystalline silicon PV cells exceed an efficiency rate of 25%. Onshore wind turbine units have surpassed single-unit capacities of over ten megawatts, and offshore turbines with single-unit capacities reaching eighteen megawatts have rolled off production lines.
The theme of this year's "Belt and Road" Energy Ministers' Conference, "Moving Forward Together: Cooperation for Mutual Benefit," highlights the importance of international collaboration. Energy ministers from participating countries, diplomats stationed in China, and leaders from major domestic energy enterprises and financial institutions gathered to discuss crucial topics such as energy transition security, new storage technologies, and advanced nuclear technology. During the conference, member states involved in "Belt and Road" energy cooperation held an expansion ceremony.
As China continues to lead the way in new energy development, the world watches in anticipation of further breakthroughs and collaborations that will shape the future of energy.