Global energy export battle: China dominates US; clean tech eclipses fossil fuels
A global competition for energy export dominance is unfolding between the US and China, with contrasting strategies- America focuses on fossil fuel exports , while China emphasises clean energy technology sales.
China has emerged as the frontrunner in the race for now. Its clean technology exports , including electric vehicles, solar panels, and batteries, reached $20 billion in global shipments in August, according to a report by the Ember think tank, cited by Bloomberg. "China reached a record value in cleantech exports even as technology prices have fallen sharply," said Euan Graham, a data analyst for Ember.
Through July, American oil and gas exports totalled $80 billion, while Chinese green technology exports reached $120 billion, surpassing US fossil fuel shipments by $30 billion. US oil exports peaked in 2024, yet China’s clean technology exports continued to grow.
Despite falling solar panel prices, China’s export volumes continue to rise. While August solar revenue didn’t match the March 2023 peak, exported power capacity reached a record 46,000 megawatts. Exports to developing markets surged, with more than half of China’s electric vehicle exports now destined for countries outside the OECD.
US policy under both Donald Trump and Joe Biden administrations has prioritised fossil fuel production, boosting exports, while limiting green technology development. China, meanwhile, remains a major oil and gas importer but consumes most of its manufactured clean technology domestically. Its domestic electric vehicle sales this quarter are set to surpass total US car sales across all fuel types.
Both nations leverage their respective strengths for export revenue. While the US may increase fossil fuel exports, potentially surpassing China’s clean technology revenue, China strengthens its global influence through rising clean technology volumes.
"Clean energy exports is hardware, which once a country has bought it, will generate electricity for a decade or two to come," said Greg Jackson, CEO of Octopus Energy, the UK’s largest energy retailer. "Whereas with gas, the day you buy it, you use it, it's gone forever," he added as quoted by Bloomberg.
China has emerged as the frontrunner in the race for now. Its clean technology exports , including electric vehicles, solar panels, and batteries, reached $20 billion in global shipments in August, according to a report by the Ember think tank, cited by Bloomberg. "China reached a record value in cleantech exports even as technology prices have fallen sharply," said Euan Graham, a data analyst for Ember.
Through July, American oil and gas exports totalled $80 billion, while Chinese green technology exports reached $120 billion, surpassing US fossil fuel shipments by $30 billion. US oil exports peaked in 2024, yet China’s clean technology exports continued to grow.
Despite falling solar panel prices, China’s export volumes continue to rise. While August solar revenue didn’t match the March 2023 peak, exported power capacity reached a record 46,000 megawatts. Exports to developing markets surged, with more than half of China’s electric vehicle exports now destined for countries outside the OECD.
US policy under both Donald Trump and Joe Biden administrations has prioritised fossil fuel production, boosting exports, while limiting green technology development. China, meanwhile, remains a major oil and gas importer but consumes most of its manufactured clean technology domestically. Its domestic electric vehicle sales this quarter are set to surpass total US car sales across all fuel types.
Both nations leverage their respective strengths for export revenue. While the US may increase fossil fuel exports, potentially surpassing China’s clean technology revenue, China strengthens its global influence through rising clean technology volumes.
"Clean energy exports is hardware, which once a country has bought it, will generate electricity for a decade or two to come," said Greg Jackson, CEO of Octopus Energy, the UK’s largest energy retailer. "Whereas with gas, the day you buy it, you use it, it's gone forever," he added as quoted by Bloomberg.
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