Illustration: Luo Xuan/GT

We are living through a crucial moment in world history. Temperatures are at record highs due to global warming. Greenhouse gases produced by the large-scale burning of fossil fuels are heating the atmosphere and also polluting the air. It is obvious, as everybody agreed at the climate summit in Paris last year, that something urgently needs to be done to save the planet by reining in the potentially calamitous effects of climate change.

A large part of the solution clearly needs to involve switching from fossil fuels to renewable sources of energy such as solar, wind and hydropower. If these three cleaner sources can be harnessed to the extent that they can make a serious dent in the dominance of what we might call the "dirty trio" of oil, coal and gas, then humanity might be able to turn back from what seems like an inevitable path to destruction.

Still, if the renewables revolution is coming, it is coming very slowly. Yet history may ultimately demonstrate that the gradualist approach is the only viable one. Regrettably, renewable energy is being held hostage to economics: If it is too expensive it cannot compete with the cost effectiveness of the dirty trio, and will end up on the scrap heap. But as technologies are improved and production costs go down, renewables are steadily becoming more competitive in the marketplace, which presents some reasons for optimism.

China, with its massive size and thus extraordinary potential for economies of scale, is undoubtedly set to play a leading role in the advancement of green energy. The Chinese government has recognized the urgent need for change, in terms of both reducing pollution caused by greenhouse gases and enhancing energy security by attempting to diversify away from imported fossil fuels. That is why China, along with the US, has committed to implementing the COP21 agreement achieved in Paris as quickly as possible, perhaps even by the end of this year.

Here in Europe, however, there seems to be a good deal of scepticism about what China is up to. At a recent EU-China energy conference at the European Economic and Social Committee in Brussels, for instance, one speaker was at pains to point out his view that China is dumping cheap solar panels on Europe and that if this practice is not stopped then European producers will go out of business. This suspicion illustrated the prevailing European distrust of China's intentions, as well as the need for improved channels of communication.

On the other hand, the speaker didn't appear to recognise the fact that cheap solar panels might be exactly what the world needs if it seriously wants to combat climate change.

Instead of finding ways to accept China's contribution, many Europeans seem to be intent on finding fault and protecting European interests instead of emphasizing cooperation on achieving the goals set in Paris.

However, despite the parlous state of the global environment there seem to be numerous reasons for optimism, particularly now that China has taken up the challenge of shifting away from the dirty trio as rapidly as economic development permits. China is now the world's leading producer of renewables, mainly through hydroelectric and wind power production. China is seeking to move away from its over-reliance on coal - in the short-term, by switching more of its energy production to natural gas imported via pipelines from Central Asia, but in the medium- and long-term by focusing on green energy.

One exciting development is the advent of large-scale solar thermal projects in Australia and the US. Despite the type of teething troubles common with any new technology, this alternative to the standard photovoltaic method of harnessing the sun's energy is gaining traction, as well as the interest of the world's biggest coal producer, the Chinese company Shenhua Coal. Shenhua has signed a memorandum of understanding with the Australian company SolarReserve to construct 10 large-scale solar thermal plants in China at an estimated cost of $2 billion.

These plants work on the principle that the sun's rays are reflected from mirrors onto a receiver on a tower. Here they heat liquid material such as salt water, which is then used to turn a turbine and generate electricity.

So far, this technology has not been perfected: The plants thus far constructed in the US have produced less power than expected at a greater cost than standard photovoltaic solar energy production. Nevertheless, given time and patience, the technology demonstrates the potential to be a game changer on a grand scale.

As China gradually shifts from its reliance on fossil fuels, of which it is now the world's biggest consumer, and simultaneously continues to rationalise its corporate structures via supply-side reforms, renewable energies are going to come more and more into play as genuinely viable and profit-generating industries. After all, the world needs green, clean energy if the human race intends to save itself and the planet, and this means that renewables are likely to become increasingly sought-after commodities.

Just as some were slow to see the potential of oil in the 19th century, many have not yet cottoned on to the huge scope for renewables to transform energy markets. It appears that both the Chinese government and Chinese companies are now ready to seize the opportunity.

The author is a lecturer in international relations with the Jan Masaryk Centre for International Studies at the University of Economics in Prague. bizopinion@globaltimes.com.cn