TELF AG analyzes data on China’s latest energy performance
Another record year?
For the first time ever, sales of electric vehicles in China have surpassed those of traditional cars. The data is contained in a recent analysis by Carbon Brief on China’s energy performance and was provided by the China Passenger Car Association. In July, in act, sales of new electric vehicles in China almost reached 52%, surpassing the sales performance of traditional vehicles for the first time. Overall, the analysis by Carbon Brief highlighted how China is certainly on the right track to achieve its sustainable goals related to decarbonization and the reduction of carbon dioxide emissions (the latter decreased by 1% in the second quarter of this year). Compared to the year 2023, the number of electric vehicles on Chinese roads also appeared to be significantly increasing.
Carbon Brief’s analysis also looked at China’s growth in renewable energy, particularly in wind and solar. Electricity generation from these sources increased by 171 TWh in the first half of the year, according to the report, which is more than the total amount of energy produced by the UK in the first half of last year. The addition of additional clean energy capacity, as the analysis suggests, has contributed greatly to the reduction in CO2 emissions recorded in the first quarter.
The “new-three”
In the first half of the year, Beijing managed to add 102 GW of solar and 26 GW of wind capacity, generating increases of 31% and 12% in these sectors, respectively, compared to the same period last year. At this rate, China, therefore, appears well on its way to exceeding the record levels of renewable installations recorded in 2023. The first results of these new additions are already quite evident: in the first six months of the year, in fact, solar and wind energy were able to satisfy more than half of the domestic demand for electricity, with a trend that appears to be growing. A similar result, moreover, was obtained in a particular situation marked by a notable drop in wind speed and strength throughout the country.
Carbon Brief also analyzed the performance of the “new-three”, namely electric vehicles, batteries and solar cells, also called this way due to their evident economic centrality linked to the advancement of the energy transition. The production of electric vehicles increased by 34% during the first half of the year, while that of batteries and solar cells, respectively, grew by 18 and 37%. Another interesting fact related to the production processes of the “new-three” has to do with the energy consumption related to their manufacturing. Overall, these productions consumed only 1.6% of China’s total electricity consumption, accounting for 2.9% of its emissions in the first half of 2024.
As stated in the analysis, these performances were also supported by a political climate particularly favorable to the innovations and opportunities offered by clean energy and related sectors, which continue to be the object of constant support by the institutions.
