Forecast: Renewable Energy Supply (Excluding Solid Biofuels) in China

In analyzing the renewable energy supply in China (excluding solid biofuels), the data showcases a steady growth trajectory from 4.37 units in 2013 to 7.41 units in 2023. As of 2023, the supply stands at 7.41 units. The year-on-year variation for the past two years reveals slight deceleration with increases of 3.93% in 2022 and 3.78% in 2023. This contrasts with earlier years which exhibited higher year-on-year variations, such as 9.3% in 2016. The five-year CAGR leading up to 2023 is 3.9%, indicating a moderate annual growth rate over this period.

The forecast for 2024 and beyond suggests a continued upward trend, projecting the supply to reach 8.74 units by 2028. The forecasted five-year CAGR is anticipated to be 2.62%, reflecting a slight decline in the average annual growth rate when compared to the recent past. Nonetheless, the total projected growth over the next five years stands at 13.8%, demonstrating a steady increase in renewable energy supply.

Future trends to watch for include the impact of new government policies aimed at accelerating renewable energy adoption, technological advancements in energy storage and distribution, and potential market disruptions from emerging renewable energy sources. Monitoring these factors will be crucial for understanding the trajectory of renewable energy supply in China.