China's Green Energy H1 +8.1%

Solar and wind power capacities in China's renewable energy sector grew during the first half of 2022 as the country pursues a green energy transition aimed at becoming carbon neutral by 2060. Total renewable power generation capacity rose by 8.1 percent year-over-year to 2.44 billion kilowatts in the first half.

According to the National Energy Administration, installed wind power capacity grew 17.2 percent to 340 million kW, while solar power capacity rose 25.8 percent to 340 million kW.

During the first six months of 2022, renewable power engineering investment by major power generation enterprises reached 215.8 billion yuan ($31.96 billion), with solar power generation spending up 283.6 percent to 63.1 billion yuan. Investment in power grid projects rose to 190.5 billion yuan, up 9.9 percent compared with the same period of 2021.

China's total installed capacity of renewable energy generation has increased by around 90 times over the past ten years, with the generation capacity of hydropower, wind, solar, and biomass ranking tops in the world.

The combined installed capacity of wind and solar power in China has reached 670 million kW, almost 90 times that of 2012. During the 14th Five-Year Plan period (2021-25), China's renewable energy generation capacity is expected to account for more than 50 percent of the country's total, and the generation capacity for wind and solar power will be doubled.