Mar 28, 2024 08:15 PM

BUSINESS

China’s New Energy Utilization Rate to Dip for First Time in Six Years, Expert Says

By You Xiaoying and Zhao Xuan

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A thermal- solar power project in Jiuquan, Northwest China’s Gansu province, on Jan. 23. Photo: VCG

A thermal- solar power project in Jiuquan, Northwest China’s Gansu province, on Jan. 23. Photo: VCG

The utilization rate of wind and solar power in China is expected to decline in 2024, the first time in six years, according to an expert at a state-affiliated think tank.

“In 2024, new energy’s utilization rate in China may drop under 95%” and the rate is projected to decrease further to “around 90% by 2030”, said Zhang Jinping, a director at the Renewable Energy Research Center of the China Electric Power Research Institute, at an industry seminar on Tuesday.

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