China contributes over 50% growth to global renewable energy capacity in 2023

(ECNS) -- Global renewable energy installed capacity reached 510 gigawatt last year, with more than 50 percent contributions from China, indicating it played a vital role in the world's development of clean energy, said Pan Huimin, a spokesperson for China's National Energy Administration during a press conference held in Beijing on Thursday.

China's renewable energy sector has continued to update technologies and stimulate the expansion of renewable energy installations, she said.

China's new energy products, such as solar photovoltaic and wind power were exported to over 200 counties and regions, with cumulative export values exceeding $33.4 billion and $245.3 billion respectively.

Thanks to China's innovation and manufacturing on new energy products, the average electricity costs of global wind power and photovoltaic projects have decreased by over 60 percent and 80 percent respectively, Pan added.

China will mark its first International Day of Clean Energy on Friday, which was set by the United Nations General Assembly in August, 2023.