China Taking The Lead In Breaking Records With Wind Power And Solar Installations

In recent news, China is installing wind and solar panels countrywide. China is the world's second best economy and is now breaking records with rapid built up plans for renewable energy resources. It is also said that the country has enough resources to generate as much electricity as Poland. Last month, China installed 93 GW of solar panels, which is nearly 100 solar panels every second; meanwhile, the wind power installation is equivalent to 5,300 turbines. A senior fellow at the Asia Society Policy Institute, Lauri Myllyvirta, has presented this analysis.

However, the energy generation through these solar panels and wind turbines is highly dependent on the location and weather conditions of the region. He also calculated that this new energy initiative would help China in generating electricity as much as Poland, Sweden, or the UAE.

He stated, "We knew China's rush to install solar and wind was going to be wild, but WOW."

This installation of renewable energy sources has made China the global leader. The solar photovoltaic capacity has surpassed 1,000 GW, which is equal to half of the world's installed solar capacity. These numbers are increasing as more researchers and government authorities from the US in China and Beijing take part in climate talks.

Since the re-entry of President Donald Trump into the US presidency, climate talks between the two superpowers have been fraught. Trump does not involve in any of the environmental protection treaties including the Paris climate agreement that is about limiting global warming below two degrees celsius above preindustrial levels. He stated that the US will not sabotage or restrict its own industries, and China will be polluted with impunity.

China is now the biggest supplier and producer of clean energy technology. It is also the biggest emitter of greenhouse gases in the world.

Xi Jinping is a Chinese leader who has spoken about the recent development of solar and wind panel installations. He thinks that the new growth in clean energy technologies and the country's ambition to grow new energy resources will have a significant impact on China's economy. In his speech, he highlighted the fact that China has become the world's largest producer of new energy chains and has built its latest record in the past five years.

However, this new advancement in the region has put pressure on clean energy firms in China. This competitiveness is raising the prices, which is hardly covering the cost of production and installments.

According to the Chinese media, China's biggest solar companies have faced a loss of 8 billion Yuan combined in the first quarter of the year. Yang Liyou, the general manager of Jinneng Technology, has held a press conference, stating that the industry is in a "death cycle" due to facing such significant losses.