Digital Transformation Slows Down the Global Economy
China To Achieve Its Target In The Wind And Solar Energy By 2025
By Anshula Mandaokar , 09 August, 2023
China is enhancing its position in renewable power by making the country's place in the top globally in 2023. The country hopes to improve its position in its own energy targets.
According to the information given by Global Energy Monitor, by doubling its capacity, China expects to generate 1200 gigawatts of wind and solar energy by the end of 2023 to achieve its 2030 goal in the same segment in five years. Global Energy Monitor is an NGO that tracks the operation of utility-scale wind and solar farms as future targets of China. The source adds that China's utility-scale solar capacity has achieved 228 gigawatts in the first quarter of 2023. The achieved goal is even more than the rest of the world could achieve. The power installations are in the north and northwest provinces of China.
China has more solar farms under construction that could boost up to 379 gigawatts, expected to triple the United States' capacity and double in Europe's case. China's onshore and offshore wind capacity is more than 310 gigawatts. The level of wind energy is more than that of the 2017 level and almost equal to the level of the following seven countries combined. The sources said the country's renewable energy growth is due to the incentives and regulations of the country, such as China in 2020 has pledged to become carbon neutral by 2060. Also, China aims to add up to 371 gigawatts in wind capacity before 2025, which will enhance the global wind fleet by almost half.China's Cumulative Installed Capacity for Power Generation
Latest News
Digital Transformation Slows Down the Global Economy
Globally, the nations are facing downward momentum in their economic activities. The financial condition of advanced economies is declining rapidly in 2024. Surveys suggest that advanced economies are facing economic challenges due to various…
German Companies’ Joint Venture to Boost Large Scale Storage in 2024
The growing clean energy transition process is forcing companies to make significant decisions regarding the storage of clean energy. Germany's energy market surges in power with necessary steps towards uplifting clean energy. The increasing…
Consumers Behavior Makes Food and Beverage Companies World Leaders in FMCG Rankings
Fast moving consumer goods (FMCG) are the important goods that consumers use in their daily activities. These products are otherwise known as consumer-packaged goods, thus, they include a range of products, such as food and beverages, healthcare…
Need of More Renewable’s Growth to Replace Fossil Fuel’s Dominance in 2024
The energy sector will go through dynamic changes in 2024. This is due to the rapid growth of the clean energy transition in the energy sector. Hence, renewables like wind and solar energy are gaining momentum in the market. However, fossil fuels…
Global Economy Attains Stability, may Affect Consumers Behavior
The global economy faces new challenges in 2024 that economically represent both positive and negative aspects. According to survey data, the global economy will stabilize for the first time in three years. The world economy will experience economic…
Anshula Mandaokar
Team Lead - Research
Latest News
German Companies’ Joint Venture to Boost Large Scale Storage in 2024
Consumers Behavior Makes Food and Beverage Companies World Leaders in FMCG Rankings
Need of More Renewable’s Growth to Replace Fossil Fuel’s Dominance in 2024
Global Economy Attains Stability, may Affect Consumers Behavior
