Greenhouse gases
China is the world’s largest emitter of CO2. But now there are signs of a turnaround in greenhouse gas emissions. China has invested so much in photovoltaics and other forms of renewable energy that its CO2 emissions could actually decrease next year.
November 29, 2023 8:33 am
Online since today, 8:33 am
At least that’s what data from the Finnish Research Institute for Energy and Clean Air (CREA) suggests. This year, China’s CO2 emissions continued to rise, but at the same time renewable forms of energy were expanded more than ever, says climate researcher Lauri Myllyvirta. This year alone, photovoltaic systems with a power of at least 200 gigawatts will be added. For comparison: the US currently has a total of 150 gigawatts. That means China has built more solar power in one year than the U.S. currently has in total, says Myllyvirta.
More “clean” capacity than energy needs
But it also means that China could soon drastically reduce its emissions. From next year, the capacity of renewable forms of energy will exceed the electricity required by industry and transport. But this is not the only factor. Due to the real estate crisis and the recession in the construction industry, investments have changed: from real estate to the industrial production of goods to the renewable energy sectors – such as electric cars, solar panels or rechargeable batteries.
Investments in these areas are key factors that will greatly boost China’s economy, according to the researcher. But more investments are also being made in coal-fired power plants and carbon-based steel production. However, there is progress in transport: 30% of all vehicles produced and sold in China are already electric and the trend is to increase.
Renewable energy as a strong economic factor
But why is China investing so much in electromobility and photovoltaic energy? The motivation is mainly economic, says Lauri Myllyvirta. You want to be the market leader in this technology sector. It would be smart for other countries to accelerate the pace a little more here – so that China faces competition and does not dominate the market in the photovoltaic sector, for example, according to the researcher.
A kind of confrontation is expected in China itself – between the powerful coal industry and the renewable energy sector. The coal industry will try to slow down the development towards clean energy again. How this will happen is not yet clear. But: The new energy sector has gained economic and political importance. Therefore, it may not be so easy to prevent this development.
Barbara Reichmann, Ö1 Science