
Aaron Foyer
Vice President, Research and Analytics
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Vice President, Research and Analytics
Because of its size, China is an energy paradox filled with fascinating contradictions.
The stats: The Asian superpower is the world’s biggest energy consumer, accounting for 25% of global energy demand. Yet, more than 250 million people in the country still live in energy poverty. For context, that’s a larger population than every country except for the US, India and of course, China.
While the country gets nearly two-thirds of its electricity from coal, it’s also been installing more wind and solar than the rest of the world combined for the past several years.
China is the largest importer of oil and at the same time has more electric vehicles on the road than any other country.
It’s unquestionably the most dominant player in the battery industry, supplying 80% of battery cells worldwide. At the same time, it’s highly dependent on key mineral imports, including lithium.
Power leverage: Without regular elections, the country’s government is stable and can plan for decades ahead instead of reacting to the populace. This has allowed it to pass policies like the Global Energy Interconnection and the Belt and Road Initiative, large global energy and infrastructure investments that allow it to exert influence over foreign nations. This, at a time when western nations are becoming increasingly insular.
+Bonus reading: China's Global Energy Interconnection
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