China continues to ramp up investment in solar energy to increase the amount of renewable energy in the country. In the first four months of this year, investments in solar energy tripled. According to experts, this will continue for the rest of the year.
Between January and April, the Chinese government put 29 billion yuan into solar energy. That is considerably more than in the same months a year earlier, according to the country’s National Energy Administration. Over almost the whole of last year, the total amount for solar energy came to 51.3 billion yuan.
China is accelerating its clean energy transition. The country wants to be much less dependent on fossil fuels and build a more flexible energy network to meet environmental goals by 2030. By 2060, China wants to stop emitting CO2.
China also wants to have sufficient security of its energy sources now that the global energy market is under pressure due to, among other things, the war in Ukraine. Energy prices have also been rising for some time, partly due to economic recovery, which means that more production is being done, which costs more energy.
Coal will continue to play a major role in China’s energy supply in the coming years. Beijing has plans to convert coal-powered power plants to support renewable energy. Sun and wind can be irregular and converting power plants can keep things in balance.
