According toa novel reportfrom the Institute of Energy Economics and Financial Analysis ( IEEFA ) , China has made further progress since 2016 due to continued investment in improving the infrastructure needed to transportlocally bring about energyand equipment . The nation ’s Belt and Road Initiative ( BRI ) commenced in 2013 to create travel routes and mightiness grid connexion within China and to other areas of the continent , often following ancient craft track such as the silk road . In 2017 , funds apportion to the BRI surpassed $ 31 billion .
In improver , Chinese power companies have expanded their front abroad . A Formosan wind power developer is now the largest in the mankind , and several hydroelectric power companies have acquired contracts for big - scale of measurement public-service corporation projection in Latin America , Africa , and Asia . The IEEFA calculates that over $ 44 billion was spend on international flatus , solar , and hydroelectric farms in 2017 .
Unlike the current US government , which has lifted environmentalmoratoriums on ember excavation , China has been shifting away from the dodo fuel . In August , the country ’s big coal mining caller unite with one of the major power utility companies . The result group , China Energy Investment Corp , is now the largest power supplier in the world and no longer needs to pit coal against fresh power source to generate revenue .
China also carry on to lead on solar cell and barrage fabrication . Chinese fellowship produced 60 pct of the solar cells sold in 2017 , and emerge technology is slat to produce a battery with a superior electrical capacity to those made by Tesla ( 121 gigawatt - hours of storage vs 35 ) by 2020 . One reason for the dominance in electric battery research is that China get 62 percent of the world ’s cobalt through state - run mining operations across the world . ( The environmental impact ofrare mineral mining , however , is a whole separate can of dirt ball . )
“ The clean energy market is grow at a speedy pace and China is set itself up as a global technology leader while the US government look the other way , ” said report co - source Tim Buckley in astatement . “ Although China is n’t needfully intend to fill the climate leadership void left by the US withdrawal from Paris , it will certainly be very comfortable providing applied science leading and financial capacity so as to dominate fast - growing sector such as solar vim , electric vehicle , and batteries . ”
