The white paper, titled "China's Energy Transition," was released by China's State Council Information Office to document the country's successful actions and historic achievements in energy transition over the past ten years.
Chinese outlet Jiemian reports that China’s development of new energy storage is “progressing rapidly, with installed capacity already exceeding 30GW”. This means that China has achieved the installation target for new energy storage outlined in the 14th five-year-plan “two years ahead of schedule”, it adds.
Over the past ten years, China has furthered reform of its energy production and consumption methods, upgraded its energy supply capacity under the guidance of its new energy security strategy, and achieved historic breakthroughs in green and low-carbon energy development, according to the white paper.
"Based on high-quality development, China's energy transition aims to build a clean, low-carbon, safe and efficient energy system. This initiative will provide a strong guarantee for the country's economic and social development and meet the people's growing desire for a better life," said the white paper.
In that time China has become the world's leading supplier of solar panels, driving down costs all across the supply chain. That has helped make solar and wind installations in China economically competitive. Subsidies have played their part, as have regulations requiring each province to hit green energy targets.
Apart from accelerating its own development of new energy, China has been sharing high-quality and affordable clean energy products with other countries, injecting green impetus for global energy transformation.