context: China's commitment to reach carbon neutrality by 2060 has greatly boosted the outlook for renewables.
The expectation for investment in the renewables industry is high. Li Jun 李隽 Global Energy Interconnection Development and Cooperation Organisation expects that
- planned additional wind power generation capacity may exceed 290GW, with an annual installation of 50GW
- by 2025, total planned wind power generation capacity will reach 540GW (including 30GW offshore installation)
- planned additional solar power generation capacity may exceed 320GW, with an annual installation of 60GW
- by 2025, total planned solar power generation capacity will reach 560GW
Renewables’ share will be a lead indicator in the new plan, expects Zhu Yue 朱玥 Xingye Securities. The Electric Power Law (draft under review) will link with the Renewable Energy Law, says Lin Boqiang 林伯强 Xiamen University, stipulating equal rights for renewable energy dispatch.