The global green technology market is projected to exceed $2 trillion by 2030, presenting enormous opportunities for economic growth and job creation.

China has cemented itself as the world’s leading force in green technology, outpacing competitors in key industries like battery cell production, electric vehicles (EVs), solar modules, and wind turbines. In 2024 alone, China exported a staggering $340 billion worth of green technology products, solidifying its role as the backbone of the global energy transition. Meanwhile, shifting policies in the United States threaten to leave the country trailing in a sector poised to surpass $2 trillion in market value.

China’s Unrivaled Green Energy Expansion

China’s leadership in green technology is no accident. The country has long invested in renewable energy manufacturing and infrastructure, leveraging state support, low production costs, and aggressive innovation.

• Battery Production: China controls more than 75% of global battery cell manufacturing, a critical component for EVs and renewable energy storage.
• Electric Vehicles: Chinese automakers, led by BYD and CATL, have expanded their global footprint, with China accounting for over 60% of EV sales worldwide in 2023.
• Solar Modules: China produces nearly 80% of the world’s solar panels, keeping costs low and making solar energy more accessible worldwide.
• Wind Energy: China leads in wind turbine production and installation, with over 50% of global wind capacity installed in Chinese territory.

These advancements have not only fueled domestic energy transition efforts but have also allowed China to dominate exports, supplying Europe, Africa, and Asia with renewable technology.

The U.S. Falls Behind Amid Policy Reversals

In stark contrast, U.S. policy under the Trump administration has taken a regressive turn, putting green energy investments on hold. Among the most significant policy setbacks are:

• Pausing Wind Project Leases: Federal leasing for offshore wind projects has been delayed, stalling a sector that had seen significant growth under the Biden administration.
• Withdrawal from Climate Agreements: The administration has scaled back U.S. commitments to global climate accords, reducing incentives for domestic green energy investments.
• Tariffs and Trade Barriers: Increased tariffs on Chinese-made solar panels and batteries have raised costs for American companies, slowing renewable energy adoption.

These policy decisions risk undermining U.S. competitiveness in a global market that is rapidly shifting toward sustainability. While federal tax credits and incentives under the Inflation Reduction Act had begun to drive investment in green technology, recent policy reversals could stifle progress.

A Missed Economic Opportunity?

The global green technology market is projected to exceed $2 trillion by 2030, presenting enormous opportunities for economic growth and job creation. The U.S., once a leader in technological innovation, risks falling behind as China continues to expand its dominance. American companies reliant on government incentives and a stable policy environment may struggle to compete with China’s scale and cost advantages.

As climate change accelerates, countries leading in renewable technology will not only profit economically but also gain strategic influence in global energy markets. Whether the U.S. re-engages in green energy investment or cedes leadership to China will shape the future of both economies—and the planet’s fight against climate change.