New energy industry faces undercapacity, not overcapacity
Release time：2024-06-03 22:54:46 Source：Global Gallery news portal
-
BEIJING, April 25 (Xinhua) -- In the ongoing discourse surrounding the global new energy sector, the U.S. allegations of "overcapacity" in China starkly contradict the prevailing reality of significant undercapacity in the industry. With a burgeoning demand for clean energy solutions to combat climate change, the global landscape indicates a pressing need for expanded production capabilities rather than an excess. The characterization of overcapacity appears peculiar when people consider the innovative and tech-driven nature of the new energy industry, which embodies the growing trend of energy transition. This sector remains in its nascent stages of rapid growth, with the demand for new energy products outstripping current global capacity. According to projections by the International Energy Agency, the demand for new energy vehicles is anticipated to skyrocket, reaching 45 million by 2030, 4.5 times that of 2022. Similar exponential growth is expected in global demand for new photovoltaic installations. Aligning with these projections, the consensus reached at the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change also underscores the urgent need to triple renewable energy capacity by 2030. Of particular note is the Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis, wherein China and the United States have reaffirmed their commitment to collaborative efforts in tackling climate change, including the support for tripling renewable energy capacity globally by 2030. Despite claims of overcapacity, there remains a consistent global demand for Chinese new energy products like vehicles and batteries, evidenced by many countries seeking investments from Chinese enterprises in this sector. Moreover, the significant policy backing from the United States, particularly through initiatives like the Inflation Reduction Act, further emphasizes this disparity. The escalating demand for new energy globally necessitates sustained efforts to expand production capacity, with China's robust development of the new energy industry playing a pivotal role in this endeavor. China's swift advancement in new energy technology, combined with its commitment to product quality, has earned growing recognition both at home and abroad. The resilience and competitiveness of China's new energy products stem from various factors, including early investment in research and development, a comprehensive industrial chain, a vast domestic market, rapidly evolving infrastructure, and robust market competition encompassing state-owned, private and foreign entities. Allegations of overcapacity in China's new energy industry seem driven by protectionist motives. Rather than reducing China's capacity, the global community should strive for expanded investment and access to Chinese products to accelerate the energy transition.
（Editor:Wang Su）
- Previous：Doctor Who fans brand sci
- Next：Paris Olympics: What to know and who to watch during the boxing competition
Related articles
- Charley Hull reveals golf fan's hilarious chat
- J&J to pump another $13B into its MedTech business with Shockwave deal
- Fake Mossad account spreads misinformation about airstrike that killed aid workers in Gaza
- Online posts erroneously tie Senate minority leader’s late sister
- McBride scores 25, Collier adds 24 and 14 rebounds; Lynx beat Wings 87
- New apps test AI chatbots to help mental health crisis
- Swedish appeals court rules space rock should stay with the owner of the property where it landed
- A new declaration in Mexico gives 19 cats roaming the presidential palace food and care fur
- Berthowr, Sebring lead the way for UCSB at the plate in 4
- Marriages in the US are back to pre
- Energy shutdowns hit Ukraine after Russian attack
- Marriages in the US are back to pre
- Pharmacists now permitted to vaccinate children under 5
- 50 years later, a Braves fan shares long
- Baltimore's Mateo enters concussion protocol after being hit by teammate's bat at on
- Lawsuit seeks to force ban on menthol cigarettes after delays by Biden
- Drug overdoses reach another record in 2022, CDC says
- NASA's final tally shows spacecraft returned double the amount of asteroid rubble
- My baby daughter was left with horrifying pus
- Maple syrup from New Jersey: You got a problem with that?
Random recommendation
Xi Story: Tackling Public Complaints HeadEmperor Qinshihuang museum launches online ticket platform for overseas touristsXi Meets with Vietnamese PMGlobal Development Initiative a Beacon of Hope in Turbulent WorldXi Focus: Nation Inspired to Foster Modern Chinese CivilizationChina unifies medicine catalog covered by medical insuranceChina unifies medicine catalog covered by medical insuranceLarge foreign cruise ships visit Shanghai as inbound tourism recovery takes offChina sees 56 new unicorn enterprises in 2023: reportXi Sends Congratulatory Letter to Forum on China
- Copyright © 2024 Powered by New energy industry faces undercapacity, not overcapacity ,Global Gallery news portal sitemap