In a remarkable yet concerning turn of events, China's power industry embarked on ambitious construction, adding close to 100 gigawatts of new coal power plant capacity in 2024. According to a recent report by the Europe-based Centre for Research on Energy and Clean Air and the U.S.-based Global Energy Monitor, this surge marks the highest expansion in nearly a decade.
This escalation poses significant risks to China's commitment to carbon reduction goals, casting shadows over the nation's impressive strides in renewable energy, particularly solar and wind power. Despite China's advancements in clean energy surpassing those in the United States and Europe, the expected transition from coal to greener alternatives seems hindered, as reported by the clean-energy groups.
Rather than substituting coal with renewables, China is integrating clean energy with an enduring reliance on fossil fuels. As noted in the report, coal energy remains solidified within China's power matrix, potentially destabilizing the growth of solar and wind capacities. In the final quarter of 2024, fossil fuel-based electricity generation witnessed an alarming high, while solar and wind energy utilization experienced a considerable decline.
President Xi Jinping, in 2020, announced two pivotal climate targets: peaking carbon emissions by 2030 and attaining carbon neutrality by 2060. Contrary to these goals, the uptick in coal plant constructions raises doubts about China's pace of reducing carbon footprints. While analysts speculate that China's carbon emissions might have already peaked, the real test lies in achieving a consistent reduction.
Last year, China accounted for a staggering 93% of global coal power plant construction starts, an indication of the robust scale of its expansion endeavors. However, there is a silver lining; proposals for new or revived coal plants have seen a decline, from over 100 gigawatts in previous years to 68.9 gigawatts in 2024. Although this hints at a possible slowdown, the sheer volume of ongoing projects foretells coal's continued prominence in China's energy tapestry.
Despite global pressures to transition towards greener alternatives, the substantial number of new installations forecasted to go online within the next two to three years underscores coal's enduring influence. It raises pivotal questions about balancing industrial growth with environmental sustainability and the global narrative towards decarbonization.
Observing this trend, one must consider whether China's strategies will pivot towards bolstering renewable resources over time. With its carbon neutrality goals set decades into the future, the trajectory of China's energy development remains crucial not only for national progress but also for international efforts to tackle climate change.
