China’s investments in its power sector may exceed 100 trillion yuan ($13.7 trillion) from 2020 to 2060, said State Grid Corporation of China said in a book.
The country’s the energy storage industry, comprehensive energy industry and energy internet industry are expected to reach trillion-year scale, it said.
Energy activities are the main source of carbon dioxide emissions in China, and to achieve the country’s carbon-reduction and carbon-neutrality goal, the transformation of China’s mix of power generation to clean and low-carbon sources needs to pick up speed, it said.
In 2022, major power firms in China invested a total of 1.25 trillion yuan, according to the China Electric Power Construction Enterprise Association. Investment in solar power generation in 2022 surged 232.7% to 286.6 billion yuan.