China's Renewable Energy Expansion Sparks Tensions with EU Over EV Tariffs

Jul 21, 2024, 04:14 AM

China's rapid expansion in renewable energy, particularly in wind and solar power, is reshaping the global energy landscape. The country is installing renewables equivalent to five large nuclear plants per week, aiming for 1,200 GW of wind and solar capacity by the end of the year. In the first half of 2024, China added 25.84 GW of wind and 102.48 GW of solar power, up 2.85 and 24 GW YoY, significantly increasing its total capacity. This growth has led to tensions with the European Union, as the EU has imposed preliminary tariffs on Chinese electric vehicles (EVs), which the Chinese industry body CCCME claims are unlawful and harmful to all parties involved. The CCCME has called for the EU to correct its findings. Despite these challenges, China's dominance in renewable energy and EV production continues to grow, driven by strategic prioritization and subsidies for these industries.