Chart of the Day: China’s Plummeting Approval of New Coal Power Capacity

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Local governments have approved far less new coal power capacity so far this year as China’s renewable energy fleet surges, however analysts cautioned that this slowdown follows a two-year flurry of approvals.

In the first half of 2024, China’s provincial governments approved 9 gigawatts (GW) of new coal power capacity, down 83% year-on-year, according to the Centre for Research on Energy and Clean Air (CREA), a Finland-based think tank.

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In the first half of 2024, China approved 9 GW of new coal power, down 83% year-on-year, amid a surge in renewable energy.
China achieved its 2030 wind and solar power target six years early, reaching 1,206 GW by July 2024, and coal's share dropped to 53% in May 2024.
Analysts suggest that a coal rebound is possible without further policies to support the integration of renewable energy into the power grid.

AI generated, for reference only

What Happened When

2021：: China faced an energy shortage.

2022：: China's hydropower output dropped significantly due to droughts.

2022：: Coal power project approvals jumped in China.

Late 2022：: Measures to curb the spread of Covid-19 were withdrawn.

2023：: Coal power project approvals continued to increase in China.

First half of 2024：: China’s provincial governments approved 9 gigawatts (GW) of new coal power capacity, down 83% year-on-year.

Between January and June 2024：: Construction started on coal power projects totaling more than 41 GW in China.

By May 2024：: Coal power generation's share of China’s energy mix fell to a record low of 53%.

Aug. 20, 2024：: Greenpeace East Asia reported that China had approved 10.34 gigawatts (GW) of additional coal power capacity over the first six months, a 79.5% decrease year-on-year.

Aug. 22, 2024：: Centre for Research on Energy and Clean Air (CREA) argued that the slowdown in coal power approvals may be a response to the country’s rapidly growing renewable energy capacity.

Aug. 23, 2024：: The National Energy Administration announced that the combined capacity of China’s wind and solar farms had reached 1,206 GW by the end of July 2024, surpassing the 1,200 GW goal for 2030 set in 2020.

AI generated, for reference only