With Chinese president Xi Jinping having revealed more details about his nation's net zero pledge on Saturday, trade body the China Photovoltaic Industry Association (CPIA) has estimated the country could add 70-90 GW of new solar annually up to 2025, under the terms of its next five-year plan.
China's 14th strategy document for the economy is expected to be published in March and, if it lives up to the CPIA's expectations, could see the nation install even more solar and wind generation capacity than the 1.2 TW promised by President Xi by 2030.
Speaking at the UN Climate Ambition Summit on Saturday, the Chinese leader said his nation would draw a quarter of its primary energy consumption from “non fossil”-fuel sources by 2030. Over the same decade, said Xi, China would “reduce its carbon dioxide emission per unit of GDP by more than 65% compared to [the] level of 2005.” The country would also plant 6 billion cubic meters of forest carbon sinks during the period, the president added.
The latest announcement follows Xi's pledge, made to the UN General Assembly in September, to make China carbon neutral by 2060.
China's ability to hit its five-year-plan targets is borne out by the current strategy document, which foresaw 110 GW of solar by the end of this year. In fact, the world's biggest solar market has long since passed that landmark and could boast 240 GW of solar capacity by the end of the month.
Chinese solar stocks rose today on the back of the president's announcement.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
3 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.