China breaks more records with surge in solar and wind power

TruthLens AI Suggested Headline:

"China Achieves Record Renewable Energy Installations in May 2023"

View Raw Article Source (External Link)
Raw Article Publish Date:
AI Analysis Average Score: 8.5
These scores (0-10 scale) are generated by Truthlens AI's analysis, assessing the article's objectivity, accuracy, and transparency. Higher scores indicate better alignment with journalistic standards. Hover over chart points for metric details.

TruthLens AI Summary

In May, China set new records in renewable energy installations, adding a staggering 93 gigawatts (GW) of solar capacity and 26 GW of wind power. This surge is significant enough to generate an amount of electricity comparable to that produced by entire countries, such as Poland, Sweden, or the United Arab Emirates. The pace of solar panel installations is remarkable, with nearly 100 panels being installed every second. Lauri Myllyvirta, a senior fellow at the Asia Society Policy Institute, highlighted that these installations from just one month could generate as much power as Indonesia or Turkey, underscoring the rapid growth of China's renewable energy sector. Cumulatively, the country has added 198 GW of solar and 46 GW of wind power between January and May, bringing its total installed solar photovoltaic capacity to over 1,000 GW, which constitutes half of the world’s total solar capacity.

This record-breaking growth in renewable energy comes at a time of renewed climate discussions between the United States and China, following years of tension exacerbated by the Trump administration's withdrawal from international climate agreements. Xi Jinping has emphasized the importance of clean energy technology for China’s economic growth, linking climate ambitions with the development of a robust clean energy sector. However, the rapid expansion of these industries has raised concerns about the financial health of clean energy firms in China. Reports indicate that the five largest solar companies faced significant losses in the first quarter of the year, prompting concerns about a potential 'death cycle' within the industry. As the demand for solar panels remains high, the competitive nature of the market is leading to price pressures that challenge the sustainability of these companies, even as China continues to dominate in both the production and installation of clean energy technologies.

TruthLens AI Analysis

You need to be a member to generate the AI analysis for this article.

Log In to Generate Analysis

Not a member yet? Register for free.

Unanalyzed Article Content

China’s installations of wind and solar in May are enough to generate as much electricity as Poland, as the world’s second-biggest economy breaks further records with itsrapid buildup of renewable energy infrastructure.

China installed 93 GW of solar capacity last month – almost 100 solar panels every second, according to an analysis by Lauri Myllyvirta, a senior fellow at the Asia Society Policy Institute. Wind power installations reached 26 GW, the equivalent of about 5,300 turbines.

While estimates for the amount of power generated by solar panels and wind turbines vary depending on their location and weather conditions, Myllyvirta calculated that May’s installations alone could generate as much electricity as Poland, Sweden or the United Arab Emirates.

Between January and May, China added 198 GW of solar and 46 GW of wind, enough to generate as much electricity as Indonesia or Turkey.

“We knew China’s rush to install solar and wind was going to be wild but WOW,” Myllyvirta wrote on social media.

China’s installed solar photovoltaic capacity has now surpassed 1,000 GW for the first time, equivalent to half of the world’s total installed solar capacity.

The record numbers come as researchers and former government officials from the US are in Beijing to participate in unofficial climate talks.

Climate negotiations between the two superpowers have been fraught since Donald Trump entered the White House in January. Trump withdrew from many major environmental protection treaties,such as the Paris climate agreementwhich aims to limit global warming to well below two degrees celsius above preindustrial levels. The US president said at the time: “The United States will not sabotage its own industries while China pollutes with impunity.”

China is the world’s biggest emitter of greenhouse gases but is also theworld’s biggest supplier and installer of clean energy technology.

Xi Jinping, China’s leader, is increasingly connecting China’s climate ambitions with the growth of the clean energy technology sector, which he sees as vital toboosting China’s flagging economy. In a speech in April, Xi highlighted the fact that in the past five years China has built “the world’s largest and most complete new energy industry chain”. The term new energy refers to renewables and supporting technology such as batteries.

But the hyper-competitiveness of China’s economy is also putting pressure on clean energy firms, with prices of solar panels barely covering the cost of production.

In the first quarter of this year, China’s five biggest solar companies reported a combined loss of over 8bn yuan, according to Bloomberg. At a recent conference, Yang Liyou, the general manager of Jinneng Technology, described the industry as being in a “death cycle”, according to Chinese media.

Back to Home
Source: The Guardian