In CY2024, China hit a new record of annual net new capacity added to the grid at 429 GW, a 21% y-o-y increase. Of this, wind and solar power combined capacity accounted for 83% at 356.5 GW, dwarfing the 4% proportion of hydropower and nuclear capacity combined. Over CY2024, China invested a massive US$84.7 billion in grid transmission expansion and modernisation projects, +15% y-o-y, key for grid capacity expansion and to facilitate the connection of 429 GW of new capacity to the grid. The national transmission line loss rate was only 4.37%
December alone saw China add 113.6 GW of new capacity, accounting for 30% of the total added capacity over CY2024. 91% of December’s added capacity came from zero-emissions sources, totalling 103.4 GW. Solar capacity additions continue to consistently represent the greatest share of new additions.
China added 79.3 GW of wind capacity in CY2024, 18% of the total new capacity, +5% y-o-y. Like with solar, China represented ~60% of global wind capacity additions in CY2024. December saw China install 28.5 GW of new wind, 25% of the month’s newly installed capacity. 14.4 GW of hydropower capacity was added in CY2024, representing 3% of total new capacity, a 79% y-o-y growth. 3.9 GW of nuclear capacity was added to the grid in CY2024, representing 1% of the total new added capacity, an 184% increase on 2023.
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