China’s National Bureau of Statistics has released preliminary data on the national economic and social development in 2024, including key indicators of the energy sector. The data confirms that China has made significant progress in energy transition and decarbonization.

Key findings from the report

Growth in installed capacity of the power grid:

• China’s installed capacity of the power grid reached 3,349 GW, up 14.6% year-on-year.
• The combined capacity of solar and wind power exceeded 1,400 GW for the first time, accounting for 42% of the total installed capacity (36% in 2023).

Decline in the share of thermal power:

• The capacity of thermal power plants (TPPs) amounted to 1,444.45 GW, and their share in the power grid decreased to 43%.
• The capacity of coal-fired thermal power plants decreased to 1.19 TW, and their share fell to 35.7% (4.2 percentage points less than in 2023).

Growth in “energy intensity”:

The installed capacity of electric power per capita in China reached 2.37 kW (in 2023 – 2 kW).

Electricity generation:

In 2024, electricity generation in China exceeded 10,000 TWh for the first time, reaching 10,086.9 TWh.
The share of renewable energy sources (RES) in generation increased by more than 3%, and the total share of solar and wind generation was 18.2% (in 2023 – 15.5%).

Solar and Wind Power:

China achieved its 2030 target of 1,200 GW of installed solar and wind power capacity in July 2024.
Solar power plants have outgenerated nuclear power for the third year in a row, while wind power plants have done so since 2012.

Energy Storage:

China has become a global leader in energy storage. In 2024, 42.37 GW of energy storage capacity (excluding pumped storage) and 101.3 GWh of storage capacity were installed.
The installed capacity of energy storage (including pumped storage) reached 137.9 GW.

Electricity Consumption:

China’s per capita electricity consumption was about 7,000 kWh in 2024, exceeding countries such as Germany and the UK.

Nuclear Power:

China remains the only country to commission new nuclear reactors each year. However, nuclear power’s share of electricity generation remains stable at less than 5%.

Energy Law Passed:

In November 2023, Chinese lawmakers passed the Energy Law, which will go into effect on January 1, 2025. The law prioritizes the development of renewable energy.

Trends and Outlook:

China continues to aggressively pursue renewable energy, reducing its reliance on coal and other fossil fuels. The rapid growth of solar, wind, and energy storage capacity underscores China’s ambition to achieve carbon neutrality by 2060.

The Energy Law underscores China’s commitment to sustainable development and energy security. These data demonstrate that China not only leads the world in electricity generation, but is also actively transforming its energy system, focusing on clean and renewable energy sources.