Chinese investments in wind, solar and electric vehicles have risen again in 2024, reaching $940 billion, a value close to the total global investments in fossil fuels last year, according to a report by Carbon Brief. China’s policy contrasts with US retreat under Trump
The report reveals that Chinese investments exceeded $940 billion in 2024, being comparable to the size of the Saudi Arabian economy. These figures are based on an analysis by the Center for Research on Energy and Clean Air (CREA), located in Finland.
Not only that, but clean energy technologies also contributed more than 10% of China’s economic growth in 2024, generating sales and investments worth $1.9 trillion.
Electric vehicles, batteries, wind power and solar power continue to dominate the economic contribution of clean energy in China, generating three-quarters of added value and attracting more than half of all clean energy investment.
Clean energy investments in China are expected to continue to grow this year, especially with the upcoming five-year plan. However, researchers point to the need to set ambitious targets to ensure the success and continued development of clean energy in the country.
Despite advances in solar and wind power, China continues to invest in new coal-fired power plants and has commissioned 94.5 gigawatts of projects through 2024, the highest figure since 2015.
