China is the “Saudi Arabia” of renewable energy

Fig. 12

China’s share of world manufacturing capacity

01—Solar

Solar wafers

95%

Solar modules

80%+

02—Lithium-ion batteries

Anode material

92%

Raw-material processing

90%

Battery cell output

85%

03—Wind turbines

China’s lead here is less pronounced — production capacity is shared with Europe and the United States.

China60%

Europe19%

U.S.9%

Rest12%

Source: International Energy Agency (IEA); shares refer to global manufacturing capacity.