In a world increasingly hungry for clean energy, a new study published in the journal *iScience* (translated from Chinese) sheds light on the pivotal role of global cooperation in driving down the costs of renewable energy technologies. The research, led by Yusheng Guan from the School of Environment at Tsinghua University in Beijing, reveals that international collaboration has been a game-changer in the rapid deployment of wind and photovoltaic (PV) power.
The study quantifies the impact of two key drivers behind the cost decline of renewable technologies: domestic expansion (national endeavor [NE]) and international deployment (global engagement [GE]). Using learning curve models and counterfactual inference, Guan and his team found that GE accounts for 17% of the global cost decline in PV and a substantial 48% in wind power. “This underscores the critical importance of global cooperation in enabling green and low-carbon development worldwide,” Guan emphasized.
The findings highlight that while national efforts play a dominant role in manufacturing hubs like China, India, and the United States, global engagement is essential for supporting energy transitions in countries outside these hubs. Without international collaboration, the global investment gap to meet the 2030 Tripling Target for renewable energy would increase by 42%, posing a significant challenge to global climate goals.
For the energy sector, the implications are profound. The study suggests that fostering international partnerships and knowledge-sharing could accelerate the deployment of renewable technologies, making them more accessible and affordable worldwide. This could, in turn, attract more investment and drive innovation in the renewable energy market.
As the world grapples with the urgent need to transition to sustainable energy sources, this research serves as a stark reminder that no country can go it alone. “Global engagement is not just beneficial; it’s essential for a sustainable energy future,” Guan concluded. The study’s insights could shape future policies and strategies, encouraging governments and industries to prioritize international collaboration in their renewable energy endeavors.