Haimi Bahar, a senior analyst at the International Energy Agency (IEA), recently pointed out that China has become a global leader in renewable energy, with its renewable energy capacity growing at an unprecedented rate. This achievement is significant not only for China itself but also for the world, as Chinas accomplishments in this field are regarded as a model for the entire world.

KaposvárphotovoltaicThe successful operation of the power station, as a key project of cooperation between Hungary and China in the field of clean energy, is clear evidence of Chinas influence in the global development of renewable energy. This project is of great significance for improving Hungarys energy structure and promoting clean energy development.

Bahar emphasized that China is the worlds largestsolarproducer of photovoltaic modules, manufacturing approximately 80% of the worlds modules. This has driven a significant decline in solar module prices over the past decade, with prices dropping by more than 80%, thereby helping countries worldwide expand the application and deployment of solar photovoltaics.

He also noted that, compared to China, the manufacturing costs of photovoltaic modules in other regions of the world are much higher. For example, in 2023, the cost of manufacturing a polysilicon photovoltaic module in the U.S. was 30% higher than in China, 10% higher in India, and 60% higher in the EU.

The IEAs annual market report Renewables 2023, released on the 11th, shows that global renewable energy capacity additions in 2023 increased by 50% year-on-year, reaching 510 gigawatts, with solar photovoltaics accounting for three-quarters of this growth. China leads the world in this field, with its wind power capacity additions increasing by 66% year-on-year in 2023, and its solar photovoltaic capacity additions equivalent to the global total of the previous year.