Forecast: Renewable Power Consumption in China

The consumption of renewable power in China has exhibited a robust growth pattern, climbing from 1.99 Exajoules in 2013 to 15.39 Exajoules in 2023, showing a consistent upward trend. The year-on-year variations illustrate significant growth peaking in 2017 at 33.83% and slowing to 15.72% in 2023. Over the last five years, from 2019 to 2023, the CAGR averages at 19.31%, reflecting strong but decelerating growth.

Looking forward from 2024 to 2028, renewable power consumption is forecasted to rise from 17.48 Exajoules in 2024 to 25.7 Exajoules in 2028, with a projected 5-year CAGR of 8.02%, translating to a total growth rate of 47.04% over this period.

Future trends to watch for:

• Continued government support and policy measures promoting renewable energy
• Technological advancements reducing costs and improving efficiency
• Increased investment in renewable energy infrastructure and capacity
• Potential impacts of global supply chain constraints on deployment pace