(MENAFN) In a recent statement, Pan Huimin, the Deputy Director of the International Cooperation Department of the Chinese National Energy Administration, proudly announced that China has played a substantial role in driving the surge in global renewable energy production. As of 2023, the world witnessed an impressive increase, with China contributing more than 50 percent to reach a total of 510 million kilowatts.

Pan emphasized China's pivotal role in advancing clean energy initiatives globally. He highlighted the noteworthy expansion of Chinese companies' investments in clean energy, spanning sectors such as wind energy, photovoltaic energy, and hydroelectric energy on an international scale. This strategic move has positioned China as a key player in the worldwide push for sustainable energy solutions.

Furthermore, Pan underscored China's ongoing commitment to supporting technological innovation in the clean energy sector. He pointed out that China continues to deliver high-quality clean energy products to the global market. Notably, these products have found their way to more than 200 countries and regions worldwide. Pan revealed that the cumulative value of China's exports in the clean energy sector has reached impressive figures, standing at over USD33.4 billion for wind energy and USD245.3 billion for photovoltaic products.

The significance of China's contribution to the global renewable energy landscape is corroborated by a report from the International Renewable Energy Agency. The report reveals a substantial decline in the average cost of generating electricity through wind and solar photovoltaic projects globally. Over the past decade, there has been an extraordinary reduction of over 60 percent and 80 percent in the cost per kilowatt-hour for wind and solar photovoltaic projects, respectively.

In summary, China's dominance in both production and export of renewable energy products, coupled with a commitment to innovation, underscores its pivotal role in shaping the future of clean energy on a global scale.

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