Global Economy Attains Stability, may Affect Consumers Behavior
China to Dominate Electricity Capacity Growth Globally in Next Five Years
By Shubhendra Anand , 01 March, 2024
Globally, countries are improving their renewable sources of energy for the sake of clean energy transition. China is expected to see increasing development in the renewable energy sector for 2024. The country is increasing with electrification of vehicles; however, it is expected to grow in the field of renewable electricity in the upcoming years.
Based on the survey conducted for the renewable energy sector, shows that China’s renewable electricity capacity is expected to grow by triple in the next five years from 2024. The growth of China’s renewable energy capacity in the upcoming five years is expected to be more compared to previous five years output. Hence, China can be the next global leader in terms of renewable energy sources with its moving development in the same sector for 2024. China’s contribution towards the worldwide renewable capacity growth is due to its projection to represent for around 60 percent of new renewable capacity to be operational by 2028. The country also targets to achieve installation of wind and solar PV six years prior to the expected date, as per the trusted sources.
China is expected to provide 56 percent towards the global expansion of renewable energy in 2024 and will continue to maintain it for the upcoming years. since, the global expectation in clean energy transition is to be fulfilled by 2050, China’s take on renewable electricity growth in 2024 can be an added benefit. Based on the survey results, China is expected to lay four times more renewable capacity than the European union and five times more than the united states. China’s development in the field of renewable sources for 2024 has resulted from country’s ambitious goals of net zero emissions by 2050. At the same time the country is also planning to incorporate the Chinese manufactured equipment at low cost.
Renewable Electricity Capacity Growth Showing China to be Leading The Race
Latest News
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…
Australia Plans for Nuclear Energy Set Up but Confused over Productivity
The world seems to be transforming, with nations taking necessary actions related to energy transformation in 2024. The developing and developed economies are ready to invest in producing low-carbon emission-based fuels. Hence, the demand for…
Google Supports Clean Energy: Geothermal Energy to Power Data Centers
Electricity is the primary sector in the energy market. It helps in the growth of overall sections of the economy, such as transportation, data centers, and households, among others. The clean energy transition plays a different role in the energy…
New Innovations in Semiconductor Industry to Regulate Water Sustainability
Semiconductors are an important component in the industrial market. Its applications cover a wide range of options in the market. Hence, semiconductor usage in the industries is challenging to reduce. However, the energy market notices that…
US Based E-Mobility Companies Collabs to Launch AI Integrated EV Charging in 2024
The world aims to switch to a sustainable environment and electric mobility in the coming years. It aims to increase the demand for efficient electric cars and their advanced charging options. Hence, low carbon emissions leverage the demand for…
Shubhendra Anand
Head Research
Latest News
Australia Plans for Nuclear Energy Set Up but Confused over Productivity
Google Supports Clean Energy: Geothermal Energy to Power Data Centers
New Innovations in Semiconductor Industry to Regulate Water Sustainability
US Based E-Mobility Companies Collabs to Launch AI Integrated EV Charging in 2024
