This huge energy transition – with the technologies currently standing at 1,408GW – can make a “decisive contribution” to the country’s climate efforts and bring big economic rewards, the China Energy Transformation Outlook 2024 (CETO24) shows.

The report was produced by our research team at the Energy Research Institute of the Chinese Academy of Macroeconomic Research – a “national high-end thinktank” of China’s top planner the National Development and Reform Commission (NDRC).

The outlook looks at two pathways to meeting China’s “dual-carbon” climate goals and its wider aims for economic and social development.

In the first pathway, a challenging geopolitical environment constrains international cooperation.

The second assumes international climate cooperation continues despite broader geopolitical tensions.

We find that, under both scenarios, China’s energy system can achieve net-zero carbon emissions before 2060, paving the way to make Chinese society as a whole carbon neutral before 2060.

However, the outlook shows that meeting these policy goals will not be possible unless China improves its energy efficiency, sustains its electrification efforts and develops a power system built around “intelligent” grids that are predominantly supplied with electricity from solar and wind.