China Doubles Down on Clean Energy Even as Coal Keeps Growing
Exxon and Chevron’s $26.5 Billion Quarter Draws Trump’s Ire Felicity Bradstock is a writer and journalist based in Mexico City.
She writes for energy websites and covers several other industries, as well as writing… China has announced plans to double down on its already ambitious renewable energy targets by massively expanding its solar and wind capacity by the end of the decade.
China has been rapidly growing its renewable energy portfolio for several decades to become the world leader in green energy.
However, despite its ambitious renewable energy plans, it also plans to continue expanding its coal production.
China is the largest energy consumer and greenhouse gas emitter in the world; however, it has also grown to become the biggest renewable energy producer globally.
The government set an ambitious goal of reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060, despite its increasing power needs and its continual reliance on coal.
Chinainstalled around 360 GW of wind and solar power capacity in 2024 alone, which contributed over 50 per cent of global additions that year.
This brought its total installed capacity to 1.4 TW, aroundone-third of the world’s 4.5 TW capacity.
In addition to accelerating the rollout of solar and wind power, the government has also welcomed the adoption of cleantech and business models that support renewable energy growth, including battery storage, virtual power plants, and electric vehicles (EVs).
In July, Chinaannounced plansto increase solar and wind power production by 53 per cent by 2030, as part of the country’s 15th Five-Year Plan period.
The plan was issued jointly by the National Development and Reform Commission and the National Energy Administration.
China now aims to increase overall renewable energy production to 1.8 billion tons of coal equivalent (tce) by 2030 from 1.18 billion tce in 2025.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment