Solar and wind (supported by battery storage) are attracting the lion’s share of near-term energy transition investment. Costs for both have tumbled over the past decade as manufacturing capacity has exploded.

But 2021 reversed this as solar module prices rose by as much as a quarter last year, while wind turbine prices grew 10-15%. Battery costs will rise in 2022 for the first time in a decade.

Record commodity and transport costs, raw-material supply constraints and logistical bottlenecks are the culprits, Rising costs have led developers to consider delays or cancellations tapping the breaks on the growth of renewables just as many countries commit more ambitious emissions reductions.

China’s renewables manufacturers and project developers emerged from 2021 bigger and more competitive than ever before as power demand drive investment to record levels. Building more, faster and cheaper than anyone else, China has become the Ikea of the energy transition.

In February's Horizons podcast, Dr Liz Dennett is joined by Andy Klump, the founder and CEO of Clean Energy Associates. Andy has over 20 years' experience in high tech renewable sectors, 18 of which are in solar PV.

Also on the show: Alex Whitworth - Head of Asia Pacific Power & Renewables Research at Wood Mackenzie. Alex has over 10 years’ experience in the energy industry in China and Asia, including roles at McKinsey, GE and IHS Markit.

February’s Horizons podcast identifies what has driven this growth in China’s renewables, how sustainable it is likely to prove and how countries and companies can respond.

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