Forecast: Renewable Energy Supply in China

From 2013 to 2023, China’s renewable energy supply saw a consistent upward trend, beginning at 7.76 units in 2013 and reaching 10.65 units by 2023. The annual year-on-year growth rate fluctuated, peaking at 5.44% in 2016, then gradually decreasing to 1.53% by 2023. Over the last five years, the compound annual growth rate (CAGR) was 2.62%, demonstrating a stable but slowing growth trajectory.

Looking ahead, forecast data from 2024 to 2028 suggest a continued but more tempered growth, with the projected CAGR dropping to 0.59% over these five years. This indicates slower incremental increases in renewable energy supply, reflecting potential maturity in renewable energy capacity or policy shifts impacting growth rates.

Future trends to monitor include:

• Technological advancements in renewable energy efficiency and storage capabilities, such as battery technology.

• Policy changes and government incentives promoting green energy to meet climate goals.

• Investments and innovations in emerging renewable sources like offshore wind or hydrogen.

• Global economic shifts influencing investment in renewables and fossil fuels.