IEA and IRENA Praise China's Role in Energy Transition
International energy leaders credit China with lowering global clean energy costs and accelerating the transition to electric vehicles and renewable power.
Leaders of the world's primary energy agencies credit China with accelerating the global transition toward clean energy through massive manufacturing expansion and technological progress. Francesco La Camera, Director-General of the International Renewable Energy Agency, stated that China has significantly lowered the global cost of solar panels, wind turbine components, and batteries, making these technologies more accessible to the Global South.
Domestically, China's National Energy Administration reported that installed photovoltaic power capacity reached 1.286 billion kilowatts by the end of July, surpassing coal-fired power as the country's largest power source for the first time. Fatih Birol, executive director of the International Energy Agency, noted that electric vehicles now account for approximately 60 percent of new car sales in China.
Birol attributed the global shift toward renewables and electric vehicles to a combination of climate concerns and energy security needs following disruptions to energy flows from western Siberia to Europe and through the Strait of Hormuz since March. To stabilize oil markets during those disruptions, the IEA coordinated the release of 400 million barrels of oil reserves on March 11. While solar and wind lead growth, Birol observed a modest increase in coal use and renewed momentum for nuclear power.
