NewEnergyNews: China Leading The New Energy Transition

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    Friday, October 19, 2018

    China Leading The New Energy Transition

    Global Renewables Forecast: Chinese Export Aspirations To Grow

    18 September 2018 (Fitch Solutions)

    “…China will make up 45% of total global renewables capacity additions over the coming decade, as the Chinese government will remain a strong supporter of the sector…[Growth in China's renewables sector will likely] slow over the coming decade, as it transitions away from feed-in-tariffs to competitive auctions…[and renewables exports will likely] become increasingly important under the Belt & Road initiative…[Non-hydropower renewables capacity is forecast to] double over the coming decade, from 1,034GW by end-2017 to 1,088GW by 2027…[Solar power capacity will] grow the fastest,] from 38% to 45%. By 2027, globally installed solar capacity will total 936GW, marginally lower than the 976GW we forecast will be installed in the wind power sector…

    Renewables power generation growth will average 7% annually between 2017 and 2027, with the wind power sector making up 51% of the renewables power generation mix by 2027…[Solar power’s lower capacity factor will keep it at] 29% by 2027…Geothermal and biomass power will comprise 3% and 18% of total renewables power generation respectively, despite the sectors only making up 1% and 8% of total renewables capacity…China will make up 45% of total global renewables capacity installations between 2017 and 2027, adding almost 500GW of renewables capacity between 2017 and 2027. This will take total installed capacity in the market to 768GW by the end of our 10-year forecast, meaning China will make up almost 37% of total installed renewables capacity by 2027…” click here for more

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