China’s Renewable Energy Achieves Record Growth in 2022: Wind and Solar Power Capacity Surpasses 120 Million Kilowatts

In 2022, China’s renewable energy will hit a new record high, with newly installed wind power and photovoltaic power generation exceeding 120 million kilowatts, exceeding 100 million kilowatts for three consecutive years. This remarkable achievement demonstrates the country’s growing competitiveness in renewable energy. The combined power generation of wind power and photovoltaic power exceeded 1 trillion kilowatt hours for the first time, reaching 1.19 trillion kilowatt hours, an increase of 21% over the previous year. These renewable energy sources account for 13.8% of China’s total electricity consumption, which is almost equivalent to the domestic electricity consumption of urban and rural residents. The progress of China’s wind power is reflected in the mainstream adoption of onshore 6 MW and 10 MW offshore wind turbines, which have become industry standards. In addition, the average conversion efficiency of mass-produced monocrystalline silicon cells has reached an astonishing 23.1%.

In addition, new renewable energy models and new business formats such as photovoltaic desertification control, agriculture + photovoltaics, and renewable hydrogen production are constantly emerging. Distributed development has become the main way to expand wind power and photovoltaics. In 2022, the new installed capacity of distributed photovoltaics will reach 51.11 million kilowatts, accounting for more than 58% of the total newly installed photovoltaic capacity.

China continues to lead the global market in renewable energy, with photovoltaic modules, wind turbines, gearboxes and other key components dominating the market, with a market share of 70%. In addition, China’s significant growth in renewable energy generation has had a positive impact on global emissions. In 2022, China’s renewable energy power generation will reduce domestic carbon dioxide emissions by approximately 2.26 billion tons. In addition, wind power and photovoltaic products are exported to other countries, helping the world reduce carbon dioxide emissions by approximately 573 million tons. The cumulative emission reduction reached 2.83 billion tons, accounting for approximately 41% of global carbon emissions from renewable energy conversion during the same period.

In recent years, China has also prioritized the development of a unified national electricity market system. Significant progress in 2022 is reflected in record transaction sizes and the number of electricity market entities. The electricity volume traded in the national market reached 5.25 trillion kilowatt-hours, a significant year-on-year increase of 39%. The transaction volume accounted for 60.8% of the total electricity consumption in the society, an increase of 15.4 percentage points over the previous year. In addition, the cross-provincial and cross-regional market transaction volume exceeded 1 trillion kilowatt-hours for the first time, a year-on-year increase of nearly 50%. The market plays a crucial role in promoting the optimal allocation of power resources on a larger scale. In summary, China’s renewable energy industry, including wind turbines, wind turbine systems, vertical wind turbines, horizontal axis wind turbines, windmills, wind turbine components and household wind turbines, has made significant progress. growth and dominance, with installed capacity hitting new records. capacity and power generation. These achievements not only contribute to China’s energy transformation, but also play a leading role in reducing global carbon emissions and optimizing the allocation of power resources through a unified national power market system.