In China, domestic consumption is completely covered by solar and wind. But….
Wind and solar power generation in China has increased in recent years to almost equal household electricity consumption. The problem is that the share of energy for energy consumption in China is secondary to that of industry.
In 2022, China's wind and solar power generation increased by 21 percent to 1,190 terawatt hours (TWh), according to data from China's National Energy Administration (NEA) cited by Bloomberg. By comparison, residential electricity demand increased by 14% last year to 1,340 TWh as people mostly stayed at home due to the zero-Covid policy.
Despite the increase in wind and solar power installations and production in China, Chinese industry accounts for about 60 percent of all electricity demand, according to Bloomberg estimates. Residential demand, on the other hand, accounts for only 17% of electricity consumption in 2020.
Even with a surge in wind and solar, China will need more electricity from fossil fuels to maintain industry and economic growth.
China is accelerating ramping up solar and wind power generation capacity and is likely to meet its 2030 renewable energy target sooner than expected, the South China Morning Post reported last month. At least 30 Chinese provinces have presented more ambitious renewable energy installation plans.
These provinces aim to add more than 300 gigawatts (GW) of wind power and 550 GW of solar power under the five-year plan. This would bring the provinces' total installed capacity to 1,500 GW, more than China's goal of 1,200 GW by 2030, Refinitiv senior analyst Jin Boyang told the South China Morning Post.
According to Jin, China could even raise its national target for renewable energy installations to 2030 by 2025 or even sooner.
At the same time, China plans to add 70 GW of coal-fired power generation this year, up from 40 GW of installed coal-fired capacity in 2022, a report by energy sector group China showed last month. Electricity Council.
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The article In China, domestic consumption is completely covered by solar and wind. But…. comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/in-cina-il-consumo-delle-utenze-domestiche-e-completamente-coperto-da-solare-e-eolico-ma/ on Wed, 15 Feb 2023 07:00:21 +0000.