By the end of 2024, wind and solar energy are projected to exceed 40% of China’s total installed power generation capacity, marking the first time renewable energy sources will outpace coal-fired power in the country, according to a recent report.
Significant Growth in Renewable Capacity
During the first half of 2024, wind and solar energy already accounted for 38.4 percent of China’s overall installed power capacity.
The report by the China Electricity Council (CEC) indicates that this growth trajectory will continue, pushing the share of renewable energy sources beyond the 40% mark before the year ends.
Continued Expansion of Wind and Solar
China is expected to add an additional 300 gigawatts (GW) of wind and solar capacity to its grid by the end of 2024. This surpasses the 293 GW added in 2023, showcasing a consistent upward trend in renewable energy development.
Installed Capacity Projections
The CEC projects that by the end of the year, grid-connected solar and wind energy will reach 1,340 GW, accounting for over 40 percent of the total installed capacity of 3,300 GW from all energy sources.
Boosting Non-Fossil Fuel Energy
The focus on renewable energy installations is also expected to propel the overall installed capacity of non-fossil fuel sources, including hydropower and nuclear, to 1,900 GW by the end of 2024. This would represent 57.5 percent of the total energy mix, a significant increase from the 53.9 percent recorded at the end of 2023.
China’s Decarbonization Goals
China, the world’s largest greenhouse gas emitter and consumer of electrical power, aims to achieve carbon neutrality by 2060. To reach this goal, the country plans for non-fossil fuel sources to constitute around 80 percent of its total energy mix by 2060.
First Half 2024 Data
Data from the CEC reveals that during the first half of 2024, China’s combined wind and solar energy capacity reached 1,180 GW. This accounted for 38.4 percent of the total 3,070 GW capacity, highlighting the rapid growth and increasing significance of renewable energy sources in China’s power mix.