China is blowing the competition away when it comes to clean energy buildout. In 2023, China alone spent more money on clean energy technologies than the next 10 biggest investors combined. On top of controlling supply chains for widely used technologies like solar panels and electric vehicle batteries, as well as the components critical to their manufacturing, China is also at the cutting edge of development for innovative and disruptive clean energy tech like clean hydrogen and energy storage. This means that China, which already dominates global clean energy tech markets, is only going to solidify its competitive edge going forward. An extremely favorable policy climate and low production costs have turned China into a global clean energy manufacturing powerhouse. The International Energy Agency estimates that China’s clean technology exports will exceed $340 billion in 2035, if current policy trends endure. To put this massive sum in perspective, it’s roughly as much as the 2024 oil export revenues of Saudi Arabia and the United Arab Emirates combined. The Biden administration has made major inroads to transitioning away from reliance on Chinese imports and has even made attempts to become competitive with China on global markets, most notably through the sweeping Inflation Reduction Act.

Full report : China’s dominance in clean energy manufacturing is fueled by favorable policies, low production costs, and substantial government investment.