From 2013 to 2023, China's electricity generation has demonstrated steady growth. Starting at 54.32 hundred billion kilowatt-hours in 2013, it reached 93.7 hundred billion kilowatt-hours by 2023. The year-on-year variation has shown moderate fluctuations, peaking at 9.71% in 2021 and tapering to around 4.65% in recent years. During the last five years, the average compound annual growth rate (CAGR) has been approximately 5.51%.
Looking forward, from 2024 to 2028, China's electricity generation is forecasted to continue growing, albeit at a slower pace. It is expected to reach 113.91 hundred billion kilowatt-hours by 2028, with a forecasted 5-year CAGR of 3.09%, indicating more stable and modest growth compared to the previous decade.
Future trends to watch for:
- Advancements in renewable energy sources and their impact on overall electricity generation.
- Government policies and regulations aimed at reducing carbon emissions.
- Increased demand driven by infrastructure development and urbanization.
- Technological innovations in energy storage and grid management.
