China Hits Xi Jinping’s Renewable Power Target Six Years Early
Bloomberg News
Thu, Aug 22, 2024
China’s world-leading clean energy boom has passed another benchmark, with its wind and solar capacity surpassing a target set by President Xi Jinping almost six years earlier than planned.
The nation added 25 gigawatts of turbines and panels in July, expanding total capacity to 1,206 gigawatts, according to a statement from the National Energy Administration on Friday. Xi set a goal in December 2020 for at least 1,200 gigawatts from the clean energy sources by 2030.
China by far outspends the rest of the world when it comes to clean energy, and has repeatedly broken wind and solar installation records in recent years. The rapid growth has helped lead to declines in coal power generation this summer and may mean the world’s biggest polluter has already reached peak emissions well before its 2030 target.
Still, solar and wind have only generated about 14% of the electricity in China so far this year, and more work will be required to grow that share and continue to squeeze out fossil fuels. The nation’s grid operators are investing heavily in power lines and energy storage facilities to be able to handle all of the intermittent generation.