China beating the US in battle for dominance over energy exports

It is selling the world green tech for cleaner future while America is hawking fossil fuels

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There is a battle under way to win the energy export market between the world’s two largest economies — the US wants the world to buy its fossil fuels, while China wants to sell the world its clean energy technologies.

For now, there is a clear winner: China.

The country’s exports of electric vehicles, solar panels, batteries and other carbon-cutting technology have been climbing for years. Exports hit a record in August, with US$20 billion (S$25.9 billion) in products shipped globally, according to a new report from think-tank Ember.

“China reached a record value in clean-tech exports even as technology prices have fallen sharply,” said Mr Euan Graham, a data analyst for Ember.

The US, which has positioned itself as a major fossil fuel exporter, sold US$80 billion in oil and gas abroad for the year to July, the last month with data available. China exported US$120 billion in green technology over the same period.