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Xuyang Dong spoke with Amelia Bernasconi at ABC about CEF’s new report POWER SHIFT: Staggering rise of renewables positions China to end new coal power before 2030. Xuyang says that China is massively accelerating renewable energy. In just the first three months of this year China installed 61 gigawatts of wind and solar. This means China is reducing its dependence on coal power. Coal power will fall to less than 50% of China’s energy mix by 2030. Our projections show it can stop building new coal power stations before 2030. Read more

China’s energy landscape is undergoing a staggering transformation propelled by its leadership in cleantech innovation, declining costs in renewable energy technologies and a massive acceleration of its renewables build out, underpinned by central policy support that sees decarbonisation as a key economic goal. Read more

Xuyang Dong spoke with Amelia Bernasconi at ABC Breakfast Upper Hunter about CEF’s new report POWER SHIFT: Staggering rise of renewables positions China to end new coal power before 2030. Xuyang says that China is massively accelerating renewable energy. In just the first three months of this year China installed 61 gigawatts of wind and solar. This means China is reducing its dependence on coal power. Coal power will fall to less than 50% of China’s energy mix by 2030. Our projections show it can stop building new coal power stations before 2030. Read more

Management at BYD, which already exports cars to more than 70 countries, has told investors that they believe they can increase overseas sales from nearly 250,000 cars in 2023 to between two to three million cars in the coming years, reflecting around 10 per cent of the market, excluding Europe and the U.S. “They are strategically farsighted,” says Tim Buckley, director of Climate Energy Finance, an Australian think-tank. “They don’t have the myopic short-termism of western capitalism.” Despite the protectionist trade landscape under U.S. President Joe Biden, BYD is also finding new ways to operate in the American market. Read more

The Act could be the foundation for our future as a zero-emissions trade and investment leader and global clean energy superpower, as we inevitably pivot from our historic dependence on carbon exports. Read more

We need to get on the bandwagon or get left behind. The transition is happening. The world is moving on. If we don’t move with everyone, Australia will languish and stagnate. So what’s in this plan? Founder and director of Climate Energy Finance Tim Buckley is here. G’day, Tim. Good afternoon Jake. So how would you describe this plan in simple terms? This plan. is definitely Australia’s uniquely Australian response to the US Inflation Reduction Act. Without doubt. Read more

As Yellen laid out plans to formalise dialogue with China over excess industrial capacity in electric vehicles (EVs), solar panels and batteries, saying Washington would not accept U.S. industry being “decimated”, the Chinese finance ministry issued a statement saying it had already “fully responded” to her concerns. One industry where global demand does not keep up with Chinese production, though, is solar. Xuyang Dong, China energy policy analyst at Climate Energy Finance in Sydney, estimates China’s wafer, cell and module capacity coming online in 2024 is sufficient to meet annual global demand now through to 2032. Read more

In 2023, China’s exports of the “new three” totalled 1.06 trillion yuan ($146.6 billion), up 29.9% year-on-year, official data showed. But they accounted for only 4.5% of China’s total yuan-denominated exports last year, so those on Beijing’s side of the debate see the West’s focus on them as hypocritical. Xuyang Dong, China energy policy analyst at Climate Energy Finance in Sydney, estimates China’s wafer, cell and module capacity coming online in 2024 is sufficient to meet annual global demand now through to 2032. (This is also republished on Business World) Read more

China has by far the world’s biggest wind turbine production capacity, or 60% of 163 gigawatts (GW) in 2023, says Brussels-based industry association Global Wind Energy Council. China exported about $1.42 billion of turbines and components to the EU last year. The situation in China’s wind turbine sector is similar to that in the solar sector, with massive domestic capacity increases underpinned by extensive government support, said Xuyang Dong, China energy policy analyst at Climate Energy Finance in Sydney. “With a domestic supply glut and world leading technology, China will increasingly seek to export turbines.” Read more

Consolidation in China’s crowded solar power sector is pushing smaller players out of the market, but excess production capacity – with more on the way – threatens to keep global prices low for years. “Many non-solar companies in China have been enticed by massive sustained market growth opportunities in solar and favourable policy support,” said Dong of Climate Energy Finance, who expects most plans by such players not to materialise. Read more

Xuyang Dong of Climate Energy Finance, an Australian think-tank, said that “China’s estimated wafer, cell and module capacity that will come online in 2024 is sufficient to meet annual global demand now through to 2032. This shows an immense domestic solar production oversupply, which has resulted in price slump in solar components”. Read more

Tim Buckley, the founder and director of Climate Energy Finance, says Solar Sunshot puts Australia in the global cleantech race, while also rebuilding its sovereign manufacturing capabilities and bolstering energy security and economic resilience. “Sunshot and these related initiatives are important steps in a uniquely Australian response to the US Inflation Reduction Act – the $1 trillion “green new deal” that is turbocharging cleantech re-industrialisation in the US and attracting a tidal wave of hundreds of billions of dollars of private capital,” Buckley says. Read more