China's energy transition realizes new leaps and breakthroughs

China's energy transition realizes new leaps and breakthroughs

02-09-2024

On August 29, the Information Office of the State Council released a white paper on China's Energy Transition. At a press conference held on the same day, Zhang Jianhua, director of the National Energy Administration (NEA), and others introduced the relevant information.

Energy transition investment reached 676 billion U.S. dollars last year, making an important contribution to the global green transition

The white paper describes the practical achievements of China's energy transition, which are mainly reflected in four “new”, Zhang said.

The development of clean energy has made a new leap forward. By the end of 2023, the installed scale of wind power and photovoltaic power generation had increased by 10 times compared with 10 years ago, and the installed capacity of clean energy power generation accounted for 58.2% of the total installed capacity, and the new clean energy power generation accounted for more than half of the incremental electricity consumption of the whole society, and the amount of energy in China containing “green” is constantly improving.

Over the past 10 years, China has eliminated more than 100 million kilowatts of backward coal power production capacity, and reduced pollutant emissions from the power industry by more than 90%. The electrification rate of end-use energy in the whole society has reached 28%. Compared with 2012, energy consumption per unit of GDP has dropped by 26%.

New breakthroughs in green energy technology have been realized. We have built a wind power and photovoltaic industry chain R&D, design and manufacturing system, fully mastered large-scale third-generation pressurized water reactor and high-temperature gas-cooled reactor fourth-generation nuclear power technology, and taken the lead in the hydropower industry chain system in the world.

New progress has been made in energy system reform. The main diversified energy market structure has been gradually constructed, the unified and open energy market system has been gradually improved, the energy price mechanism reflecting the market supply and demand relationship has been gradually formed, and the role of the market in enhancing the level of clean energy consumption, guaranteeing power supply, and promoting the optimal allocation of resources has been increasingly apparent.

Wan Jinsong, deputy director of the National Energy Board, introduced that over the past 10 years, fixed asset investment in the energy sector has totaled about 39 trillion yuan. The total investment in the central budget for the transformation and upgrading of rural power grids has exceeded 100 billion yuan, driving localities and enterprises to increase capital investment, and historically solving the problem of electricity access for the nation's unelectrified population in 2015.

China's energy transition investment in 2023 amounted to 676 billion U.S. dollars, is the world's largest energy transition investment. 2023 exports of wind power photovoltaic products to help other countries reduce carbon dioxide emissions of about 810 million tons. “China's new energy industry has not only enriched global supply and pushed down the cost of global energy transition, but also made an important contribution to the global green transition and the fight against climate change.” Wan Jinsong said.



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