China added 76.75 gigawatts of renewable energy capacity in the first quarter of 2024, accounting for roughly 90% of all new power installations, according to data released by the National Energy Administration (NEA). The figure represents a 21% increase compared to the same period last year.
Source: People's Daily
China added 76.75 gigawatts of renewable energy capacity in the first quarter of 2024, accounting for roughly 90% of all new power installations, according to data released by the National Energy Administration (NEA). The figure represents a 21% increase compared to the same period last year.
For the first time, the combined installed capacity of wind and solar power surpassed that of coal-fired power—marking a historic milestone in China’s energy transition. Renewable energy generation also surged, reaching 816 billion kilowatt-hours in Q1, up 18.7% year-on-year and representing 35.9% of the country’s total electricity output.
“Renewables continue to dominate new energy development,” said Xing Yiteng, Deputy Director of the NEA’s Department of Development and Planning. He added that energy investment remained strong in the first quarter, with key national energy projects seeing a 12.9% year-on-year increase in investment during January and February. Notable growth was recorded in offshore wind, new energy storage, power grids, and nuclear energy.
To further support market vitality, the NEA recently issued a directive aimed at boosting private-sector participation in the energy industry. The policy encourages fair competition, improves administrative services, and supports private firms in adopting innovative technologies and business models.
The private sector is playing an increasingly vital role in China’s energy landscape. As of the end of 2024, over 80% of large-scale charging facility operators—those managing more than 10,000 charging units—were privately owned. Xu Xin, Deputy Director of the NEA’s Department of Legal and Institutional Reform, said the new directive also promotes private investment in cutting-edge areas such as energy storage, virtual power plants, smart microgrids, and charging infrastructure. It also supports private capital in traditional infrastructure projects like hydropower and oil and gas reserves, helping unlock new growth drivers in the sector.
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