China Increases Global Renewable Energy Production by 50% in 2023

China has played a pivotal role in boosting global renewable energy production, contributing to over 50% of the increase, which reached 510 million kilowatts in 2023, according to Ban Houmin, Deputy Director of the International Cooperation Department at the Chinese National Energy Administration.

Ban emphasized China's significant role in global clean energy development, highlighting the expanding investments of Chinese companies in various clean energy sectors worldwide, including wind energy, solar energy, and hydroelectric power.

He stated that China continues to support technological innovation and provide high-quality clean energy products to the world.

These products have been exported to over 200 countries and regions globally, with cumulative export values exceeding $33.4 billion for wind energy and $245.3 billion for photovoltaic products.

According to a report by the International Renewable Energy Agency, the world has witnessed a decline in the average cost per kilowatt-hour of electricity generated through wind and solar energy projects worldwide, with reductions exceeding 60% and 80%, respectively, over the past decade.

Ban attributed this progress to Chinese innovations, products, and projects, highlighting their crucial role in achieving these advancements. v5