China's installed capacity of new energy reaches record high as green transformation progresses

China Electricity

China's installed capacity of new energy reached a record high at the end of 2023, advancing the green transformation of China's energy and electricity industries, according to the latest data from the China Electricity Council.

In a report, China Central Television said that, in 2023, the leap in renewable energy power generation, led by wind and solar, meant that the installed capacity of grid-connected power generated by wind and solar increased from 760 million kilowatts at the end of 2022 to 1.05 billion kilowatts at the end of 2023. This accounted for 36 percent of the total installed generating capacity, an increase of 6.4 percentage points from the end of 2022.

"In 2023, China's energy and power industry accelerated the construction of a new energy supply system, characterised by diversification and complementarity. The energy structure, which previously relied on coal as its primary source, has transformed into a green and diversified one. By the end of 2023, this transformation spiked to a historical high in installed capacity, raising the share of non-fossil fuel energy to over 50 percent," said Hao Yingjie, Secretary-General of the China Electricity Council.

The aggregated installed capacity of renewable energy is expected to reach around 1.3 billion kW by the end of 2024, accounting for 40 percent of the overall installed capacity and overtaking the share of coal energy generation for the first time.