Clean, green, profitable, and growing

Solar, hydro, wind, hydrogen, nuclear segments set to transform energy mix

China's solar power segment is expected to achieve faster growth, playing an even bigger role in the country's energy industry this year.

That will come against a background of China's goals to allow carbon emissions to peak before 2030 and achieve carbon neutrality before 2060, experts said.

Solar power is expected to surpass wind power as the third-largest power source in the country.

China is aiming to come up with another 70 gigawatts to 90 gigawatts of solar installed capacity on average each year during the 14th Five-Year Plan period (2021-25).

If the plan pans out, China will take the lead in photovoltaic development globally.

The country boasts an internationally competitive and complete industrial chain, said Wang Bohua, secretary-general of the China Photovoltaic Industry Association.

Newly added solar power installations during the 2016-20 period were five times that of the previous five years, as China makes steady progress in the adoption of clean energy, said the association.

China exhibited strong resilience against the impact of the COVID-19 pandemic, bringing about 40 GW of new solar power into operation last year, up almost 33 percent year-on-year, and taking its total installed solar capacity to 240 GW, Wang said.

Industry insiders said subsidies from the government, cost cuts and advancements in technology have been driving the rapid development of the country's photovoltaic industry.

According to Wang, future development of renewables, including wind and solar power, will not need State subsidies, thanks to sharply falling costs brought about by technological advances.