The report finds that cumulative installed capacity for renewables in China, excluding hydropower, will more than triple from 196.3 GW in 2015 to an estimated 608.9 GW by 2025, representing a Compound Annual Growth Rate (CAGR) of 12percent. This will be driven largely by ambitious government targets for onshore wind. China has made considerable progress in renewable power deployment over recent years, with cumulative installed capacity burgeoning from 9 GW in 2007 to 154.6 GW by 2014.
“China's renewable energy sources, especially wind power, will continue to grow thanks to the government's supportive policies, as the country seeks to reduce its reliance on coal-based thermal power” said Chiradeep Chatterjee, GlobalData’s Analyst covering Power. “However, connecting to the national grid represents a significant obstacle, as a number of renewable power projects have been revised or shelved due to the lack of offtake capacity. Laying new cables and creating an extensive smart grid network that would match supply with demand is necessary, but will require huge investment.”
Mr Chatterjee added that the Chinese National Energy Administration is targeting 150 GW of wind capacity by 2017, which will increase to 200 GW, 400 GW, and 1,000 GW by 2020, 2030, and 2050, respectively.
The report also finds that China’s cumulative installed hydropower capacity will almost double from 322.6 GW in 2015 to 600.5 GW by 2025, despite environmental concerns such as the Three Gorges Dam project and the Jinsha River project.
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