The future of global energy is likely to be made in China

A recent report by U.S.-based think tank Global Energy Monitor revealed that China is currently building nearly two-thirds of the world's wind and solar power projects. These new facilities are expected to produce twice as much energy as all other countries combined, which is enough to power around 250 million homes.

"All told, 2023 saw unprecedented wind and solar growth in China," the report said. "The unabated wave of construction guarantees that China will continue leading in wind and solar installation in the near future, far ahead of the rest of the world."

As the world's largest emitter of greenhouse gases, China's shift towards cleaner energy sources could signal a peak in its emissions output. In May, China generated 53% of its electricity from coal, marking a record low. On the other side, 44% came from non-fossil fuel sources, a record high.

"If current rapid wind and solar deployment continues, then China’s CO2 output is likely to continue falling, making 2023 the peak year for the country’s emissions," Lauri Myllyvirta, a senior fellow at Asia Society Policy Institute, wrote.

Experts anticipate that this rapid increase of renewable power could allow China’s carbon footprint to continue to shrink, even as the country’s demand for electricity grows. This presents a stark contrast to the United States, which is still grappling with the challenge of reducing emissions while meeting increasing energy needs.

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