In recent years, China’s electric power industry has made significant strides in green development and carbon reduction. According to the latest reports, the country’s new energy power generation has achieved remarkable growth, with a cumulative increase of 157.4% since 2021, and an annual increase of 26.7% expected by the end of 2024. Specifically, wind and solar energy are projected to reach 1.45 trillion kWh, surpassing the capacity of traditional thermal power for the first time.
Recent reports indicate that the green development of China’s electric power industry has been continuously improving. The new energy generation capacity is expected to reach 1.45 trillion kWh by the end of 2024, primarily driven by wind and solar power. However, challenges remain in the integration of new energy sources due to their intermittent nature and fluctuations, which pose risks to the stability and security of the power grid.
To address these challenges, effective supply-demand adjustments are necessary to balance generation and consumption. This requires diversifying energy storage technologies, including pumped storage, compressed air, and various other energy storage solutions, to ensure that the power system remains flexible and secure.
The report highlights the need for policies to support the rapid development of new energy sources and the establishment of a more resilient electric power system. It emphasizes that since 2021, there has been a steady push towards enhancing the capacity and integration of new energy sources, with significant growth in both installed capacity and generation output.
By the end of 2024, it is projected that China’s new energy generation capacity will exceed 400 million kW, with a cumulative increase of 130% compared to the previous year. This growth is largely attributed to the expansion of wind and solar power installations across the country, particularly in regions rich in renewable energy resources.
In terms of market dynamics, new energy projects have been rapidly developed, with a notable increase in the number of new installations across various regions, making up a significant portion of the overall power generation landscape. The report suggests that the focus should be on enhancing the efficiency and reliability of new energy production to meet the growing demand for clean energy.
Looking ahead, the government plans to implement policies aimed at further accelerating the development of new energy resources, particularly in the face of increasing electricity demand and the need for sustainable energy solutions. The emphasis will be on ensuring that new energy technologies are effectively integrated into the existing power grid.
In summary, China’s electric power industry is on a transformative path towards a greener and more sustainable future, marked by significant advancements in new energy generation and ongoing efforts to address the challenges associated with integrating these resources into the broader energy system.
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