Source: International Renewable Energy Agency *Data includes both photovoltaic and solar thermal technologies China is on an absolute tear installing wind and solar power. The country reached nearly 900 gigawatts of installed capacity for solar at the end of 2024, and the rapid pace of building has continued into this year.
Hebei hosts several leading solar manufacturing firms, and has led the deployment of storage and power grid technologies. And Shandong is home to nearly 70,000 enterprises in the solar power generation sector, far more than any other province.
The study finds that achieving an 80% carbon-free electricity system in China by 2035 could reduce wholesale electricity costs, relative to a current policy baseline, while maintaining high levels of reliability, reducing deaths from air pollution, and increasing employment.
Solar capacity tripled worldwide from 2018 to 2023. By 2030 solar could top 9 200 TWh each year, up from 1 600 TWh in 2023. Panel prices fell more than 50% from December 2022 to December 2023. China installed 887 GW of solar, 521 GW of wind, and 436 GW of hydropower. Solar grew 45% in one year.
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The share of wind and solar combined reached 18%, just ahead of the global average of 15% and above its neighbours Japan (11%) and South Korea (6%). The biggest …
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