Business News Asia
China’s National Energy Administration announced that clean energy sources, specifically wind and solar power, are playing an increasingly significant role in the country’s energy allocation. With a new installed capacity of 120 million kilowatts in 2022 and a cumulative installed capacity of over 700 million kilowatts at the end of the previous year, wind and solar power account for 78% of the new installed capacity in China. This makes both types of energy a significant source of electricity for the country.
Furthermore, wind and solar power generation accounted for more than 55% of the country’s new electricity generation in 2022. The National Energy Administration also highlighted the importance of solar power in stabilizing power supply in major solar provinces such as Jiangsu and Zhejiang in eastern China, particularly during last summer’s energy peak.