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China Surpasses 2030 Wind & Solar Target in 2024; Focus Shifts to Green Hydrogen and Power Markets

China's 2024 energy summary reveals that the country has achieved major milestones in renewable energy, surpassing its 2030 target for wind and solar power six years ahead of schedule. By the end of 2024, the combined installed capacity of wind and solar PV reached 1,406 GW, representing 42% of China's total installed power capacity. Renewable energy accounted for 86% of the newly added power generation capacity in 2024.

Non-fossil energy made up 19.7% of China's total primary energy consumption. In addition to traditional renewables, the country made strides in emerging sectors including new-type energy storage, new energy vehicles (NEVs), and market-oriented mechanisms such as green power trading.

For the first time, the 2024 summary includes data on green hydrogen and transactions in the green power market, highlighting China's commitment to its dual carbon goals. The report also outlines preliminary forecasts for 2025 in terms of energy consumption and power supply-demand trends, as well as anticipated policy directions to support continued renewable energy expansion.