In the wave of global energy transformation, China is becoming a key force in promoting sustainable development of global

energy with remarkable achievements and positive actions. In 2024, China’s multiple advances in the field of new energy not

only consolidated its leading position in the global market, but also injected strong impetus into the global energy transformation.

1. The global influence of China’s new energy industry

By the end of 2024, China’s achievements in wind power and photovoltaics are particularly outstanding, providing important

support for the global energy transition. China not only dominates the global market, but also significantly reduces the cost of

renewable energy through technological innovation. Specifically, China’s share of the global photovoltaic components and wind

power equipment markets exceeds 80% and 70% respectively, and its products cover more than 200 countries and regions around

the world. Over the past decade, China has driven the average kilowatt-hour cost of global wind power and photovoltaic power

generation projects to drop by more than 60% and 80% respectively, significantly improving the economy and competitiveness

of clean energy.
II. Key Progress and International Cooperation in 2024

In 2024, China’s influence in the global energy transition will further expand. At the 29th Conference of the Parties to the United

Nations Framework Convention on Climate Change (COP29), China continued to play a constructive leading role and promoted

important progress in global climate governance. In addition, through the Belt and Road Initiative, China actively participated in

global energy governance and promoted the deepening of full industrial chain cooperation in wind power, photovoltaics, hydrogen

energy and energy storage.

In the field of energy storage, Chinese companies have also made remarkable achievements in 2024. In July 2024, Sungrow signed

the world’s largest energy storage project with Saudi Arabia, with a capacity of up to 7.8GWh. The successful signing of this project

not only demonstrated China’s leading position in energy storage technology, but also set a benchmark for the development of the

global energy storage market.
3. Technological innovation and accelerator of global energy transformation

China’s innovation in new energy technology is an important support for its global influence. In 2024, China will continue to maintain

its technological leadership in wind power, photovoltaics and energy storage, and accelerate the global energy transformation.

For example, through technological innovation, China has greatly improved the efficiency and economic efficiency of renewable

energy generation, providing an “accelerator” for the global energy transformation.

In addition, China’s influence in the global nuclear power sector is also expanding. In 2024, the global application and research and

development of nuclear power technology will accelerate, and China’s technological breakthroughs and project implementation in this

field will provide important support for the global nuclear power industry chain.
IV. Future Outlook: Continue to Lead the Global Energy Transformation

Looking ahead, China will continue to play a leading role in the global energy transition. Through technological innovation, international

cooperation and policy support, China is not only committed to achieving its own “dual carbon” goals, but will also provide sustained

impetus for the global energy transition. The many achievements in 2024 show that China’s role in the global energy transition has

changed from a participant to a leader, and its “green momentum” is shining globally.

At a critical moment in the global energy transformation, China, with its strong technological strength and firm policy support, is

becoming a key force in promoting sustainable global energy development.