China's Coal Plant Approvals Plummet: The Rising Tide of Renewable Energy
China's Shift Towards Renewable Energy
China's coal plant approvals have dropped dramatically this year, highlighting a decisive move towards renewable energy sources.
Coal Capacity Approvals Fall Sharply
In the first half of the year, China's government approved just 9 gigawatts (GW) of new coal capacity, marking a staggering 83% decline compared to 2022. The Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) report the overall proposals for new coal plants saw a 38% decline to 37GW this year.
Renewables Surpassing Coal
- Wind and solar energy are projected to represent over 40% of China's total installed power-generation capacity by the end of 2024.
- The push for renewable sources is crucial to achieving China's ambitious carbon neutrality target by 2060.
- The China Electricity Council reported a combined 1,180GW of wind and solar capacity as of June 30.
Implications for Coal Projects
Despite the slowdown in new approvals, construction continues on previously authorized coal projects, with over 41GW under progress. This constitutes a significant portion (over 90%) of global new coal construction.
Future Directions
Experts urge China to expedite phasing out its coal facilities and re-evaluate its dependency on fossil fuels, focusing instead on clean energy and a flexible power grid.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.