Report: China's new energy sector continues high-quality growth

China's newly installed capacity of renewable energy reached a historic high in 2024, accounting for over 60 percent of the world's total, according to a report released by the China Renewable Energy Engineering Institute on Wednesday.

Wind and photovoltaic power generation installations are expected to add another 280 million kilowatts this year.

Among the key drivers of this rapid growth in renewable energy, technological innovation plays a central role. In 2024, China made breakthroughs in several critical areas of renewable energy technology, providing strong support for the sector's development. Key advancements in renewable energy technology last year include smart technology, material innovations and multi-energy collaboration.

For example, the world's largest 26-megawatt offshore wind turbine was successfully connected to the grid; the market share of N-type solar cells increased by more than 50 percentage points year on year, completing a major technological transition. Breakthroughs have also been achieved in core equipment for a 300-megawatt compressed air energy storage system, and demonstration projects such as "Offshore Wind+" marine ranching and offshore wind-powered hydrogen production have been launched.

Zhang Zongliang, an academician of the Chinese Academy of Engineering, stated that China's hydropower technology is at the forefront of global development. He noted that China contributes to over 40 percent of global new installations of wind and solar power generation. "This has ensured the security of global supply chains for photovoltaic modules and wind turbines," he added.

According to the report, China's renewable energy industry is becoming the backbone of global energy transition and climate change efforts. Currently, China provides high-quality clean energy products and services to more than 200 countries and regions globally, with over 85 percent of the global market share in photovoltaic products. The country has made significant contributions to the growth of global energy transition investments.

Zhang Yiguo, vice president of the China Renewable Energy Engineering Institute, noted that China's renewable energy development has entered a new stage that emphasizes both quantity and quality. He explained that the focus has shifted from large-scale expansion to high-quality development. To support this transition, energy planning and spatial planning must be closely coordinated. The integration of power generation, grid infrastructure, load management and energy storage should be planned holistically to broaden the application scenarios of renewable energy and ensure it is effectively developed, utilized and transmitted.

Moving forward, China will actively establish industrial systems that adapt to renewable energy generation characteristics in areas rich in energy resources. By collaborating renewable energy with other industries, the country will tackle renewable energy consumption challenges and transform its resource advantages into industrial strengths.