Clean energy sectors grew three times as fast as the Chinese economy overall, accounting for 26% of all GDP growth in 2024. China would have missed its 5% target for GDP growth without the growth from clean technologies, expanding by 3.6% instead of the 5.0% reported. - ThreadSky

laurimyllyvirta.bsky.social • 4 days ago

Clean energy sectors grew three times as fast as the Chinese economy overall, accounting for 26% of all GDP growth in 2024.

China would have missed its 5% target for GDP growth without the growth from clean technologies, expanding by 3.6% instead of the 5.0% reported.

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laurimyllyvirta.bsky.social•4 days ago

Investment in clean energy reached 6.8tn yuan ($940bn), close to the global total put into fossil fuels in 2024, and of a similar scale to the overall size of Saudi Arabia’s economy.

laurimyllyvirta.bsky.social•4 days ago

The clean energy sectors in order of value: EVs and batteries; solar; other clean power; rail transportation; electricity grids and storage; and energy efficiency.

laurimyllyvirta.bsky.social•4 days ago

Energy storage was the growth story of 2024, with almost 40 GW of battery storage and 4 GW of electrolyzers added to the grid, up 70% and 100% on year, and pumped hydro storage capacity under construction rising to 190 GW.

laurimyllyvirta.bsky.social•4 days ago

The “new three” of EVs, batteries, and solar continued to dominate the economic contribution of clean energy in China, generating three-quarters of the value added and attracting more than half of all investment in the sectors overall.

laurimyllyvirta.bsky.social•4 days ago

The key role of clean energy in China's economy shows that the sector can be a major driver of economic growth and investment. China's clean energy sectors are the largest in the world in absolute terms, but in relation to the size of the economy, these rewards are attainable elsewhere as well.

laurimyllyvirta.bsky.social•4 days ago

The exponential growth in energy storage will hopefully give China's decision-makers confidence that they can keep the lights on without new coal. Storage is a new policy priority, with a new action plan aiming for "distinct international competitive edge".
https://bsky.app/profile/yanqin.bsky.social/post/3ligqovwguc23

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