China has transformed itself into a clean-energy powerhouse that now produces most of the world’s solar panels, wind turbines, electric vehicles, and lithium-ion batteries.
Market dominance, manufacturing expertise, and established supply chains give China huge leverage over the global clean-energy sector. It could enable the country to dictate technical standards and terms of trade, while seizing most of the jobs and revenue that arise from the shift away from fossil fuels.
Other nations hope to build up their own clean-tech manufacturing capacity to reduce their reliance on other countries and boost domestic jobs. But China’s market share, and the nearly two decades it took to build it, means any country that hopes to rapidly shift away from fossil fuels will still need to find ways to successfully collaborate and trade with that nation.
51%: China’s share of EV sales
54%: China’s share of wind turbine assembly capacity
75%: China’s share of global lithium-ion cell manufacturing