China’s new-energy push is accelerating fast, but does it have the power to drive economic growth?
- An extensive rooftop-solar-power campaign highlights how China is betting heavily on clean and renewable energy in a time of increasing power crunches and disruptions
- Amid China’s economic downturn and regulatory uncertainties, the new-energy industry remains a bright spot in China’s economy, attracting abundant capital
In a relatively small and mountainous county in southern China, Wang Rongshuo’s company is playing a pivotal role in an ambitious new-energy plan that aims to install solar panels on most rooftops, potentially changing the face of the county’s power landscape for decades to come.
The nationwide initiative will span several years and cost hundreds of billions of yuan, creating lucrative opportunities for companies such as Wang’s that are keen to cash in on the country’s thirst for power at a time when all major economies are pushing to achieve decarbonisation goals.
In fact, more than half of all solar panels installed across the country in 2021 were on rooftops, according to the National Energy Administration.
“You can see large-scale solar panel projects springing up everywhere – from deserts in barren provinces to fish ponds, orchards, hillsides, commercial and industrial building rooftops in the most affluent provinces,” said Wang, who founded Yangshuo Lujian Technology, a Guangdong-based new-energy-facility installer.
Rooftop solar panels help bring affordable energy to Chinese villagers