Who is winning the Clean Energy race between China, Europe, and the US?

(Energy Post, 9 Apr 2024) “X-Change: The Race to the Top” is the fourth report of an RMI series that reviews the cleantech competition between China, Europe, and the US.

Kingsmill Bond, Sam Butler-Sloss and Daan Walter at RMI summarise the findings of the latest report, along with six charts, which focuses on four areas: clean technology supply chains, solar and wind deployment, EV sales, and electrification. Solar and wind deployment is still a close contest. But China dominates clean energy supply chains, having outspent the US and Europe 10-fold in the past five years, though US and European capital expenditures are set to increase 16-fold by 2025. China also leads in the EV race, with Europe close behind. Over one-third of Chinese cars sales are now electric. And China has leapfrogged in electrification to become the first major electrostate, say the authors. The good news is that major areas of the global energy system are achieving faster change than many realise. And the prize for the winner of this race – apart from saving the planet – is geopolitical influence.

The clean energy race between China, Europe and the USA

In X-Change: The Race to the TopRMI looks at the contest between China, Europe, and the United States to make and deploy the energy technologies of the future. China is in the lead in many of the key cleantech races. However, as the report details, the game is still in its early stages and Europe and the United States have a lot to play for. Furthermore, the competition between these regions will speed up change in the Global South.

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Energy Post, 9 Apr 2024: Who is winning the Clean Energy race between China, Europe, and the US?