This report builds on the IEA Energy Sector Roadmap to Carbon Neutrality in China chapter on "Innovation for carbon neutrality", and provides complementary and new analysis and information. It maps the institutional and policy landscape of clean energy innovation in China and shows trends for selected metrics to track and explain progress of technology development.
Achieving global energy and climate policy goals will require more, better and cheaper low-carbon energy technologies. Most energy technologies are not on track to provide the clean energy transitions targeted by governments, according to IEA annual monitoring. Many technologies required to lower emissions to so-called "net zero" levels are not ready for markets, notably in sectors hard to decarbonise such as heavy industry and long-distance transportation, for which large-scale low-carbon solutions are not widely available.
This report is concerned with how energy technologies are invented, turned into products and modified throughout their lives. Technology innovation is defined as "the process of generating ideas for new products or production processes and guiding their development all the way from the lab to their mainstream diffusion into the market". Equipment and processes that change how or how much energy is consumed are included, ranging from energy supply, transformation and distribution, digitalisation, to end-use sectors including in buildings, industry and transport.
There are four main stages of technology development: prototype, demonstration, early adoption and maturity. Technologies are not uniform in size, time to market, consumer value or type of owner. Each stage and technology type require tailored policy support as a result. The ETP Clean Energy Technology Guide tracks progress of over 400energy technologies (e.g.stage of development, ongoing activities).
China''s role in the global clean energy revolution will be massive, with the country set to drive innovation and influence supply chains around the world with its focused approach towards renewable technologies.
In response to the pressing challenges posed by climate change, China has leveraged its unrivalled manufacturing prowess (facilitated by some very supportive domestic policies) to cement its position as a key player in the sector.
The country leads in global investment, channelling substantial funds into renewable energy projects, including solar and wind power, electric vehicles (EVs), battery technology and large-scale energy storage.
This figure represents nearly half of the world''s entire expenditure on low-carbon initiatives, overwhelming the financial contributions from other significant players like the United States and the European Union.
China''s supremacy in the clean energy field by dominating the production of solar panels, wind turbines, and lithium-ion batteries. Remarkably, about 80% of the world''s solar panels are manufactured in China, along with a significant portion of the battery cells used in EVs.
This overwhelming production capacity stems from China''s ability to build integrated and efficient value chains, significantly reducing costs. This efficiency makes renewable technologies more accessible on a global scale.
As Sverre Alvik, Energy Transition Outlook Director at DNV, points out: "Since the end of the Cold War, the world has benefited from growing global cooperation and trade.
"Achievements and improvements in one region would soon spill over to another and the effect has been a dramatic price drop on almost all technologies, including the technologies we now need for the energy transition."
China not only produces but also vigorously consumes clean energy within its vast domestic market, which acts both as a driver for and a beneficiary of its expansive clean energy initiatives.
In a striking demonstration of this growth, China added as much solar capacity in 2023 as the entire world did in 2022. The Chinese government''s targets are ambitious, aiming to peak carbon emissions before 2030 and achieve carbon neutrality by 2060.
These goals are spurring on the widespread adoption and improvement of renewable energy infrastructure, which in turn is fuelling a robust domestic demand, ensuring sustained growth within the sector.
The unwavering governmental support provided through policies and incentives, such as feed-in tariffs, subsidies for EV manufacturers, and the issuance of green bonds for sustainable projects, underscores China''s strategic approach towards fostering its clean energy sector.
China''s state-backed strategy in promoting its clean energy sector has attracted criticism from the West, particularly regarding the flooding of global markets with less expensive goods.
Yet, the country shows adaptability; for instance, phasing out feed-in tariffs in 2021 as solar and wind technologies became self-sustaining financially, indicative of China''s balancing act between market dynamics and strategic economic goals.
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