China is playing an increasingly important role in the global energy transition, not only making significant strides in energy storage and grid development but also optimizing user-side electricity demand mechanisms, an expert said.
Roberto Bocca, head of energy and materials at the World Economic Forum and a member of the WEF executive committee, said during a recent exclusive interview with China Daily that China has made significant contributions to global renewable development.
Bocca said China has played a remarkable role in expanding production scale and advancing equipment manufacturing technologies in the renewable energy sector over the past few decades. These efforts have resulted in a substantial reduction in the cost of solar and wind facilities, ultimately increasing access to affordable electricity worldwide.
"This development benefits not only China, but the entire global community. There are immense opportunities for companies to continue innovating, advance technologies further and enhance production efficiency in the renewable energy field," he said.
Data from the National Energy Administration (NEA) reveals promising progress in China's renewable energy sector. Non-fossil energy consumption in the country increased from 9.7 percent in 2012 to 17.5 percent last year. The NEA highlighted that China leads the world in energy efficiency growth, with an annual consumption growth rate of less than 3 percent, contributing to over 6 percent in economic growth on average.
The country now boasts the world's largest electricity supply system and clean power generation system, ranking first globally in hydro power, wind power, photovoltaic, biomass power and under-construction nuclear power, according to the NEA.
As of June, the cumulative installed power capacity reached 2.71 billion kilowatts, with renewable energy capacity surpassing coal power, growing approximately threefold in the past decade and standing at 1.32 billion kW.