info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

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

CHINA-ELECTRICITY-2024-1-3-2024.jpg

Latest News

2022.png
High Rate of Emissions from Cement and Steel Manufacturing in 2024

The United Nations Environment Programme (UNEP) claims limiting the increase in global average temperature to 1.5 degrees Celsius is quite unrealistic. The emission rate from different industries shows various results in the reports published by UNEP…

Read More

sectors.png
Gen AI Revolutionizes Insurance Sector, Tries to Build Consumers’ Trust

Insurer executives worldwide report that generative AI is critical to maintaining their edge in the insurance market, and as such, 77% of them rank its significance. But customers, in this case, the clients of insurance companies, are more cautious…

Read More

year-wise.png
China Plans to Manufacture Fastest Charging EV Batteries

China rightfully takes center stage in progress in ultra-fast charging EV batteries. As it appears, a Chinese electric vehicle manufacturer has emerged as a clear industry leader by developing the fastest charging battery in the world that can go…

Read More

CHINESE-BRANDS-2024.jpg
Chinese Tech Sector Strengthens, may Dominate Western Big Techs in the Future

Chinese market goes through significant economic changes in 2024. Globally, Chinese brands are climbing the ladder higher in the market. A 2024 survey shows the performance of some Chinese companies with the highest brand value. These companies help…

Read More

transition.png
Supply Chain Disruptions causes Slow Clean Energy Transition

There is a global race to clean energy sources because of climate change in 2024. However, there is a danger that the impending metal supply crisis will offset this gain. The move to renewable energy technologies greatly depends on critical minerals…

Read More

Author Pic
Shubhendra Anand

Head Research