The World Needs Chinese Clean Energy Products to Meet The Challenges of Energy Transformation

Bloomberg recently published an article saying that Chinese clean energy products have price advantages in themselves, and they are not deliberately lowering prices. "The world needs such products to meet the challenges of energy transformation."

The article, titled "Biden is wrong: our solar energy is not enough," said that at a meeting last September, members of the Group of Twenty (G20) proposed to triple the global installed capacity of renewable energy by 2030, and there are huge challenges to achieve this goal.

The article pointed out that the United States claims that there are too many green technology production lines in the world and imposes import tariffs on China's clean energy products under the pretext of "price wars". But the problem is that if the United States wants to achieve its goal of decarbonizing power generation by 2035, it will need all these production lines.

"To achieve this goal, we need to increase wind power generation and solar power generation capacity to nearly 13 times and 3.5 times the 2023 level, respectively, the development of nuclear energy must be accelerated by more than 5 times, and the construction speed of clean energy batteries and hydropower must double." The article said.

The article argues that capacity exceeding demand will lead to a virtuous cycle of price reductions, innovation and industry consolidation, while capacity falling short of demand will only lead to inflation and shortages. "If we want to avoid catastrophic climate warming in our lifetime, lowering the cost of green energy is the single best thing the world can do."