Renewable energy sources are forecast to account for 70% of the total electricity generation capacity in China by 2035, compared with 50% in 2023, according to GlobalData’s power capacity and generation database. GlobalData uses proprietary data and analytics to provide a complete picture of China’s renewable energy market in its China Power Market Outlook to 2035 report. Buy the report here.
Of all renewable energy sources, the share of solar PV power generation capacity is forecasted to change from 19% in 2023 to 39% in 2035.
The share of wind power is expected to reach 8% in 2035, compared with a 15% share in 2023. Biopower is forecast to account for 2% shares of China’s total electricity generation capacity, in 2035, as against 2% shares in 2023. The share of solar thermal is expected to change from a 0.02% share in 2023 to a 0.11% share in 2035.
In terms of capacity additions, the total renewable energy capacity is expected to see 2967139.93 MW of additions in China during the forecast period while the non-renewable energy segment is likely to see 446192.7 MW of additions.
CAGR growth of key renewables in China
Renewable generation capacity in China is expected to reach 3,979GW in 2035 at a CAGR of 10% during 2023-2035.
Solar Thermal power is expected to record highest growth rate of 20.75% by 2035, followed by wind with 10%. Other renewable energy sources such as biopower, geothermal and hydro are estimated to have growth rates of 8%, 4%, and 0.02% respectively.
Hydrogen and CCS plants in pipeline in China
A total of ten hydrogen and 39 carbon capture and storage (CCS) plants are expected to be developed in China by the end of 2035.
For more detailed analysis of the renewable energy market in China, buy the report here.
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