INDUSTRY BRIEF: China green energy buildup continues, passes 2030 target
China added more than 350 GW of wind and solar power generation capacity last year, pushing its total installed capacity past its target for 2030 as it spends aggressively on clean energy to meet its emissions reduction goals.
The country added a record 277 GW of solar power capacity and 79.3 GW of wind power capacity last year, up 28% and 4.5% year-on-year, respectively, financial media Caixin reported, citing data given out by China’s National Energy Administration on Tuesday. The additions brought China’s total installed capacity for wind and solar power to 1.41 TW, passing the national goal for 1.2 TW by 2030 six years ahead of schedule.
China added 429 GW of power generation capacity across all different types last year, with wind and solar accounting for 80% of the total. It has the most installed capacity for green energy sources of any country in the world, including 887 GW of installed solar capacity. Despite that, much of the new capacity has yet to be connected to the grid. And even at grid-connected facilities, large amounts of power are often wasted due to lack of storage capabilities.
By Doug Young
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