China's Leading Role in Clean Energy Technologies and Advanced Energy Solutions
Key Ideas
  • China surpassed its 2025 target of 30GW of non-hydro energy storage in 2023, indicating rapid growth in the sector and attracting significant investments.
  • The commitment to hydrogen dates back to 2015 under the 'Made in China 2025' plan, with multiple policies driving the development of the hydrogen industry.
  • More than 30 large-scale green hydrogen projects in China have attracted a total investment of 260 billion RMB ($35.9 billion), showcasing the country's dedication to clean hydrogen.
  • The World Economic Forum's Advanced Energy Solutions community aims to accelerate the deployment of clean fuels, hydrogen, advanced nuclear, storage, and carbon removal technologies globally, emphasizing collaboration and informing policy decisions.
In 2023, China emerged as a global leader in clean energy technologies by surpassing the combined investments of the top 10 countries. The country has focused on accelerating the deployment of advanced energy solutions, with a particular emphasis on energy storage and clean hydrogen. China's investments in renewables and electrification of transport exceeded 60% of the total, with advancements in power grids, energy storage, nuclear technologies, and sustainable aviation fuels. The government's strategic industrial policies have enabled a thriving business environment, driving domestic deployments and global exports. China's success in energy storage is evident as it surpassed its 2025 target of 30GW two years ahead of schedule, reaching a capacity of 31.4GW by the end of 2023. The sector attracted over 100 billion yuan in investments and is set to further expand with a raised target of 40GW by 2025. Additionally, China has been a pioneer in clean hydrogen, with significant investments in over 30 large-scale green hydrogen projects, totaling 260 billion RMB. The World Economic Forum's Advanced Energy Solutions community recognizes China's advancements in clean energy and aims to accelerate the deployment of such technologies globally. By fostering collaboration and informing policy decisions, the community strives to drive the adoption of clean fuels, hydrogen, advanced nuclear, storage, and carbon removal technologies worldwide.
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