All charged up for high-growth era

Zhang Kuo, general manager of Alibaba.com, said Chinese sellers of renewable energy products have seen triple-digit sales growth since October 2021, with sales of wind turbines, energy storage systems and light energy converters rising rapidly.

Data from eBay, an e-commerce pioneer, also showed that clean energy products, such as solar panels, inverters, lithium batteries, controllers and portable outdoor energy products, have witnessed rapid growth in the European and American markets in recent years, with the Chinese sellers steadily increasing their market share.

Zhang Qiying, general manager with eBay international cross-border trade division's home and garden department, said sales of clean energy products on the platform, led by solar power, have skyrocketed in recent years.

US investment bank Morgan Stanley, which sees module makers such as Longi as key beneficiaries of the EU's moves, said the EU has become the single largest market for Chinese firms, accounting for 46 percent of related exports in 2021.

The figure is likely to rise this year as the EU has announced a 210 billion euros ($223 billion) plan that centers on cutting red tape for wind and solar farms and paving the way for renewables to make up an increased target of 45 percent of the bloc's energy needs by 2030, Morgan Stanley said.

Figures from the General Administration of Customs showed that China's total exports of PV modules amounted to 88.8 GW last year, up 35 percent year-on-year. The European market is China's biggest overseas market as well as a major source of growth.

China shipped 45.3 GW of PV modules to Europe last year, up 54 percent year-on-year and accounting for 45 percent of the total exports, according to the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

In addition to solar power, Chinese companies in the fields of other clean energy sectors like wind, lithium batteries and energy storage are playing a more than ever important role in global energy development.

China's Envision Group, for example, has seen its smart wind turbines and energy storage products available in markets in Europe, Latin America and Asia, with an average growth rate of over 40 percent for many years.

Major Chinese carmakers, including SAIC and BYD, as well as electric car startups such as Nio, Aiways and Xpeng, have all been exploring the European market, while many of the Chinese power battery companies have started to set up factories in Europe. These include Envision AESC, the battery-making arm of Chinese company Envision Group, and Contemporary Amperex Technology Co Ltd.

During the annual tone-setting Central Economic Work Conference, which concluded on Dec 16 in Beijing, China underlined accelerating the planning and development of a new energy system in order to facilitate the construction of a modern industrial system and ensure the steady performance of the real economy. To that end, China will continuously step up the reserves and supply capacity of domestic energy and mineral resources, said government officials.