Policy leaders, advocates and academics gathered in California over the weekend for the 16th annual U.S.-China Green Energy Summit, with former Secretary of State John Kerry, former Energy Secretary Steven Chu and China’s former Minister of Science and Technology Wan Gang speaking. 

While the summit at Stanford University was designed to foster cooperation on climate policy between the world’s two largest economies, recent political events underscore growing tensions. 

Secretary of the Treasury Janet Yellen emphasized the threat to U.S. businesses presented by unfair Chinese trade practices in a speech in Washington on Thursday.  

“China’s policies are also leading to industrial overcapacity in critical industries, threatening the viability of American and other firms and increasing the risk of overconcentrated supply chains that undermine global economic resilience,” Yellen said at a discussion hosted by the Council on Foreign Relations. 

Yellen’s warning followed a strongly worded speech last week in Portugal by Jose Fernandez, undersecretary for economic growth, energy and the environment at the State Department. Fernandez labeled Chinese lithium producers flooding global markets at uneconomical prices as “predatory.”

Fernandez stated that the move by Chinese state-owned firms to undercut global lithium markets was designed specifically to undermine the $400 billion Inflation Reduction Act, the largest climate and energy program in U.S. history. 

China’s state investments into renewable technologies dwarfs U.S. efforts, with an estimated $890 billion flowing into the sector last year. A January 2024 report by Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air, estimated that the clean energy segment alone accounted for almost 40% of the nation’s growth in 2023.

Critically, China’s manufacturing of electric vehicles (EV) accounts for over 65% of global production while producing nearly 80% of all EV batteries. 

While the Biden administration has continued to step up pressure on Chinese officials over trade practices deemed unfair, the policies supported by former President Donald Trump are even more draconian. Trump, the Republican presidential candidate, has proposed tariffs on Chinese imports as high as 60%. 

While the trade tensions simmer, China’s mammoth investment in clean technologies continue, providing investment opportunities for U.S. investors. 

KraneShares MSCI China Clean Technology ETF KGRN has risen by 4% year-to-date, underperforming the Shanghai Stock Exchange Composite Index which has spiked by more than  9% — powered in large part by Beijing stimulus measures announced in  late September focused on property markets. Matthews China Active ETF MCH , which is heavily weighted to consumer and financial sectors, has risen by nearly 15% in 2024.  

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SB Energy opens new Texas solar plants

SB Energy has completed three solar projects that can generate up to 900 megawatts in Milam County, Texas. 

The Orion I, Orion II and Orion III solar projects, more commonly referred to as the Orion Solar Belt, are powered by more than 1.3 million U.S.-made modules. The projects are expected to qualify for the domestic content bonus credit enacted by the Inflation Reduction Act. Secretary of Energy Jennifer Granholm delivered an address at the opening ceremony of the Orion Solar Belt.  

“The Biden-Harris Administration envisioned an industrial strategy for clean energy that’s built and installed by American workers and powering American companies in proud American communities. This future is seen in action through the Orion Solar Belt in Texas,” Granholm said. 

SB Energy is owned by Japanese investment behemoth SoftBank Group SFTBY .

NEXTRA set to announce earnings

NEXTRA Energy NEE the world’s largest generator of renewable energy from wind and solar is set to announce third quarter earnings on Tuesday. Consensus analyst forecasts are for $1.01 per share, an increase of 7.5% versus the same period last year.  NEXTRA’s announcement is the first in a slew of earnings releases by green energy stocks including First Solar FSLR , which will report results next week.

Nuclear stocks surge

After recent investments by technology giants Alphabet and Amazon in nuclear power to support growing energy demands for AI data centers, the nuclear sector continues to be on a tear. 

Both NuScale Power Corp. SMR and Nano Nuclear Energy have risen by more than 80% over the past month as of Friday, while Oklo, Inc.    has shot up by 190%. 

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