China expands solar energy at record speed—100 panels per second!
What's the story
China has set new records in renewable energy installation, adding 93GW of solar capacity in May alone. That's almost 100 solar panels every second. Wind power installations reached 26GW in the month. The country's total installed solar photovoltaic capacity has now crossed 1,000 GW for the first time, accounting for half of the world's total. Between January and May, China added 198GW of solar and 46GW of wind, enough to generate as much electricity as a country like Turkey.
Energy expansion
Climate talks underway in Beijing
The record installations come as researchers and former US government officials attend unofficial climate talks in Beijing. The discussions have been tense since Donald Trump's presidency, during which he withdrew from key environmental treaties like the Paris climate agreement. "The United States will not sabotage its own industries while China pollutes with impunity," Trump had said earlier this year.
Economic impact
China's economic competitiveness is stressing clean energy firms
Chinese leader Xi Jinping has linked the country's climate goals with its clean energy technology sector's growth. He called it crucial for boosting China's economy. However, the competitiveness of China's economy is also stressing clean energy firms, with solar panel prices barely covering production costs. In Q1 this year, China's top five solar companies reported losses of over 8 billion yuan.