China's Emissions to Surpass 250 Gigatons by 2060; Solar+Battery Systems Cheapest
China's global entry into the renewable energy sector is projected to reach around 250 gigatons by 2060, highlighting the urgent need for more ambitious emissions-reduction targets. Meanwhile, solar-plus-battery systems have emerged as the most cost-effective way to provide constant electricity in sun-rich regions worldwide.
China's greenhouse gas emissions in 2022 alone amounted to 15.7 gigatons, surpassing the combined emissions of the US and EU. This underscores the necessity for China to set more stringent targets and for Europe to strengthen its own. Despite this, China leads the globe in five key 'green' technologies that could potentially replace three-quarters of global fossil-fuel use.
The cost of solar PV has plummeted by 90 percent over the past 15 years, and battery costs per kilowatt-hour have significantly decreased. This has made solar-plus-battery systems the cheapest option for round-the-clock electricity in most sunbelt regions. However, high production costs for electric vehicles in Europe pose a competitive disadvantage compared to regions like Asia-Pacific.
In 2024, China installed around 400 gigawatts of solar and wind power, more than half the global total. Yet, China's per capita emissions remain higher than the EU and UK, and are expected to decrease at a slower pace. Additionally, China's plans to add 280 gigawatts of coal-power capacity by 2029 could further exacerbate its high emissions.
International cooperation, particularly between China and Europe, is vital for limiting global warming to well below 2°C by COP30. While China's investment in renewable energy is significant, its continued reliance on coal and high emissions pose a substantial challenge to global climate goals.
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