China to Continue Heavy Investment in Diverse Energy Mix Despite Renewable Expansion

China will continue investing heavily in a diversified energy system, combining coal-fired power plants with renewable sources such as wind and solar to support its expanding industrial base, which has helped drive exports of low-cost manufactured goods worldwide, Irina Slav reported for Oilprice.com.

China is pursuing a diversified energy strategy to strengthen energy security. (Photo: Csp.guru, Wikimedia Commons)

China accounted for more than half of the world's estimated $1.1 trillion in spending on wind, solar and other renewable energy technologies between 2019 and 2025, building the world's largest renewable energy capacity.

Beijing has also strengthened its energy self-sufficiency by dominating critical mineral supply chains, rare-earth processing, and the manufacturing of wind and solar equipment.

To bolster energy security, China's latest five-year plan targets generating 50 percent of its electricity from non-hydrocarbon sources by 2030, up from the previous target of 42.3 percent for 2025.

The plan also calls for expanding wind and solar capacity to more than 2,700 gigawatts, representing more than half of the country's total installed power-generation capacity.

By the end of 2025, wind and solar accounted for 47 percent of China's installed electricity-generation capacity.