China dominates the clean energy market: last year's revenue was twice that of the United States, with Tesla and BYD leading the way.
On Sept. 4, Beijing time, large US companies lagged far behind their Chinese rivals in terms of generating revenue from solar, wind, nuclear and other types of renewable energy.
China dominates the clean energy market, ranking first with revenues of $707 billion last year, well ahead of the US with $398 billion, according to data from BNEF, a US energy industry research firm.
Among S & P 500 companies, clean energy accounts for only 3.4% of their total revenue, which is about half of that of companies in the Shanghai Composite Index.
Last year, Bloomberg New Energy Finance estimated that more than half of the revenue of more than 680 companies in the Asia-Pacific region came from clean energy, including renewable and nuclear energy, electrified transport, biofuels, hydrogen and carbon capture. By contrast, there are nearly 410 companies in the US and about 430 in Europe, the Middle East and Africa.
The transformation of enterprises to new energy businesses will not only benefit the planet, but also create huge economic benefits. "the transformation of corporate business models to greener businesses is not just for the noble purpose of protecting the planet. This is also a huge economic opportunity for companies that help drive the energy transformation." Michael Michael Daly, financial analyst at Bloomberg New Energy, said.
In the automotive industry, Tesla and BYD are obviously new energy leaders, far ahead of traditional automakers such as BMW and Ford.
Looking ahead, Mr Daley said: "with the release of more models and new policies to support electric vehicles, we expect traditional carmakers in lagging groups to increase their share of their electric vehicle business."
