Currently, climate change is an imminent threat to humanity, and combating climate change has become a global consensus. As a key measure to address the global energy and climate crisis, the green transition of global energy is accelerating, and the market demand and development potential for clean energy are enormous.
Currently, climate change is an imminent threat to humanity, and combating climate change has become a global consensus. As a key measure to address the global energy and climate crisis, the green transition of global energy is accelerating, and the market demand and development potential for clean energy are enormous.
The International Energy Agency estimates that, to achieve the carbon neutrality goal, the global demand for new energy vehicles will reach 45 million by 2030, and the demand for new photovoltaic installations will reach 820 gigawatts, about four times that of 2022. In addition, to achieve the goals of the Paris Agreement, we need to double the production capacity of renewable energy before 2030, and increase global green energy investment from the current1.8 trillion US dollars per year to 4.5 trillion US dollars in the early 2030s.
Therefore, the demand for clean energy technology and products worldwide is far from being overcapacity, despite accusations of "overcapacity" in China's export of electric vehicles, lithium batteries, photovoltaics, and other new energy products. In fact, there is a huge demand gap. Now, China is the world's largest producer of renewable energy and can cooperate with European countries, the United States, and countries in the global south to take advantages of China's renewable energy technology and production capacity to accelerate the global renewable energy transition.
China's cheap and efficient solar photovoltaic panels are popular overseas, which is a positive contribution to the world in combating climate change. Just as the Wright brothers in the United States invented the airplane and further expanded the space for human activities, China's new energy technology products can also help countries transition to green and low-carbon energy.
When geopolitical conflicts, ideological and political differences, and local protectionism become the reasons to treat products by the United States and Europe and products by China, differently, so much so as to even obstruct Chinese companies' overseas renewable energy investment, production, or sales, it is undoubtedly double standards, which are only counterproductive to addressing the climate crisis and achieving sustainable development.
In the face of energy and climate crises, China is making the greatest efforts to provide the world with a solution, that is, affordable renewable energy. The Asian Infrastructure Investment Bank established by China is also providing green financing for similar projects. The global energy structure transition has become an inevitable trend, containing a huge market demand, but also facing a huge funding gap. The G7, G20, and BRICS countries should come to the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change and cooperate for solutions that are supported by all countries. This is the common expectation of developing countries and the responsibility of developed countries.