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Chinese Exports of Green Technologies Surged to Record Levels After Iran War Began

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1 week 5 days ago
"The war in Iran has sent oil-starved countries scrambling for fuel," CNN reported this week. And many of those countries now want renewable fuels, the article points out, "leaving them turning to the renewables king of the planet: China." Chinese exports of solar technology, batteries and electric vehicles all reached record highs in March, according to energy think tank Ember, a sign that the historic oil supply shock is accelerating the adoption of clean energy around the world... A Thursday report from Ember said China exported 68 gigawatts of solar technology in March, surpassing the previous record set in August by 50%. Fifty countries set new records for Chinese solar imports, with the most significant growth coming from emerging markets in Asia and Africa hit hardest by the energy crisis, according to the think tank. "Fossil shocks are boosting the solar surge," said Euan Graham, senior analyst at Ember, in the report. "Solar has already become the engine of the global economy, and now the current fossil fuel price shocks are taking it up a gear." Ember said exports of solar, batteries and EVs in total rose 70% in March year over year, according to Chinese customs data... China's battery exports reached $10 billion in March, with particularly high growth rates in the European Union, Australia and India, Ember said. Uncertainty over when the Strait of Hormuz will reopen has spurred deeper regional anxieties about energy securi"ty, helping to hasten the transition to clean energy, analysts said. The article notes how different countries are reacting to fuel Asian nations that depend on the Middle East for energy imports "are trying to mitigate fuel shortages by encouraging energy conservation and shortening work hours." The UK's Energy Secretary said this week that the country needed to reduce its reliance on gas for electricity. "As we face the second fossil fuel shock in less than 5 years, the lesson for our country is clear: The era of fossil fuel security is over, and the era of clean energy security must come of age." Pakistan "has been spared some of the impact from the war, since it began drastically importing cheap Chinese solar panels a few years ago. Using solar energy rather than costly oil imports is estimated to save the country billions of dollars each year." "According to the China Passenger Car Association, Chinese exports of electric vehicles and hybrids hit a record high in March, increasing 140% compared with the same period a year ago." Thanks to Slashdot reader AleRunner for sharing the article.

Read more of this story at Slashdot.

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