Half of the global investments in renewable energy are Chinese .. 358 billion dollars

The world is spending more money than ever on renewable energy, mostly on solar energy in China.

The report said yesterday that China accounted for about half of the volume of record global investments worth 358 billion dollars in renewable energy in the first half of this year. Thanks to cheaper modules, a strong market for rooftop photovoltaics, and the commissioning of large-scale energy projects, the United States came a distant second.

However, the volume of solar energy investments in the United States increased by 75 percent compared to the first half of 2022, reaching 25.5 billion dollars, amid easing restrictions on supply chains and increasing clarity on the law to limit historical inflation, analysts said. Earlier, the Chinese authorities issued guidelines to promote the recycling of decommissioned wind and photovoltaic power equipment.

The guidelines state that the country will actively build a recycling system for wind and photovoltaic energy equipment, including green design, standard recycling, high-value use, harmless disposal and other links in the recycling chain.

China’s new energy industry has developed rapidly, and the installed capacity of wind and photovoltaic power ranks first in the world, according to the commission.

New energy equipment will face the problem of large-scale decommissioning in parallel with the acceleration of industrial modernization and equipment renewal.