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How China went so far ahead in industrial policy

For more than half a century, concerns about oil shortages or a damaged climate have pushed governments to invest in alternative energy sources.

In the 1970s, President Jimmy Carter installed solar panels on the roof of the White House as a symbol of his commitment to developing solar energy. In the 1990s, Japan offered homeowners groundbreaking subsidies for the installation of photovoltaic panels. And in the 2000s, Germany developed an innovative program that guaranteed consumers who adopted a solar energy system would sell their electricity at a profit.

But no country has come close to matching the scale and tenacity of Chinese support. The proof is in production: by 2022, Beijing was responsible for 85% of all investments in clean energy production in the world, according to the International Energy Agency.



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