China is preparing now to lead this new energy world. Photo credit – Pixabay
A new report has shown that China is leading the world in renewable energy, whilst the USA lags behind.
The research was undertaken by the Institute for Energy Economics and Financial Analysis (IEEFA).
Their report states that:
”Indications are that renewable energy will dominate global power capacity additions for at least the next two decades. China is preparing now to lead this new energy world.”
According to a press release, Tim Buckley, co-author of the report and IEEFA’s director of energy finance studies, said that the U.S.’s withdrawal from the Paris climate agreement along with an increased U.S. government emphasis on coal and away from renewables is at odds with the direction being taken by China.
“The clean energy market is growing at a rapid pace and China is setting itself up as a global technology leader while the U.S. government looks the other way,” Buckley said. “Although China isn’t necessarily intending to fill the climate leadership void left by the U.S. withdrawal from Paris, it will certainly be very comfortable providing technology leadership and financial capacity so as to dominate fast-growing sectors such as solar energy, electric vehicles and batteries.”
The recent report seems to confirm our news story from October last year, that China continues to lead the rest of the world when it comes to renewable energy.
That news story was based on research undertaken by experts at EY, who demonstrated in their ‘Renewable Energy Country Attractiveness Index’ (RECAI) that China remains the global leader in environmentally friendly power.
Until 2015, the USA held the top spot. However, China pushed the USA into second place last year, and India is now in second position with America in third.
The researchers noted that in China plans have been established to replace a large volume of coal power with renewable sources, whilst great efforts have recently been made to promote electric or alternative energy vehicles.