China's New Energy Industry Development and Future Goals

TapTechNews June 20th. The Information Office of the State Council held a series of press conferences on the theme of 'Promoting High-Quality Development' today. Zhang Jianhua, the director of the National Energy Administration, attended and presented the situation.

He believes that China's new energy industry has developed real capabilities in open competition, representing advanced production capacity. There is no so-called 'overcapacity' problem in China's new energy industry regardless of from the perspective of comparative advantage or global market demand.

TapTechNews found that from 2013 to 2023, the proportion of China's coal consumption has dropped from 67.4% to 55.3%; and the proportion of non-fossil energy consumption such as wind power, solar power, hydropower, nuclear power and biomass energy has increased from 10.2% to 17.9%.

Li Chuangjun, director of the New Energy and Renewable Energy Department of the National Energy Administration, also introduced that as of the end of May this year, the installed capacity of new energy storage projects that have been built and put into operation in China has exceeded 38 million kilowatts, and the average energy storage duration has reached 2.2 hours. There are 12 provincial-level regions with an installed capacity of more than one million kilowatts.

Zhang Jianhua said that China's energy development also faces the requirements of the 'dual carbon' goal, including that the proportion of non-fossil energy consumption will reach about 25% in 2030 and the carbon emissions per unit of GDP will be reduced by more than 65% compared with 2005.

He pointed out that on the basis of effectively ensuring the reasonable energy demand of economic and social development, steadily and orderly promoting the 'dual carbon' goal is the fundamental task of high-quality energy development in the future.

Zhang Jianhua said that to achieve the above goals and tasks, the National Energy Administration will coordinate energy security and low-carbon transformation, and make joint efforts from both the supply and demand sides to promote high-quality energy development. On the one hand, it is necessary to do the 'ubtraction' of energy conservation and carbon reduction on the consumption side. Implement the 'Energy Conservation and Carbon Reduction Action Plan 2024-2025', deeply implement the action of reducing and replacing fossil energy consumption, and strictly and reasonably control coal consumption. Continue to promote the transformation and upgrading of energy use patterns, deeply promote the electrification substitution in industries, buildings, transportation, agriculture and other fields, and enhance the service guarantee ability of electric vehicle charging. By 2025, about 12 million charging infrastructures will be built nationwide. Through the joint efforts of all parties, it is expected to increase the level of electrification at the end of energy use to about 30% by 2025. On the other hand, it is necessary to do the 'addition' of improving the quality and expanding the quantity of non-fossil energy on the supply side. Increase the development intensity of non-fossil energy, and comprehensively promote the development and utilization of nuclear power, hydropower and new energy. Strengthen the construction of system regulation capacity, and improve the acceptance, allocation and regulation capacity of the power grid for clean energy. At the same time, with the issuance and trading of green electricity certificates for renewable energy as the starting point, promote the continuous expansion of the scale of green electricity consumption, promote that the incremental demand for energy is more satisfied by non-fossil energy, and promote that the proportion of non-fossil energy consumption increases by 1 percentage point every year.

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