New developments in the energy sector provide economic growth momentum
2024-01-29
The National Energy Administration recently held a press conference to introduce China's development of new energy storage and investment in key energy projects in 2023. The data released at the meeting showed that energy investment maintained rapid growth in 2023, with the completed investment in new energy increasing by over 34% year-on-year; The development of new energy storage is rapid, with an additional installed capacity of approximately 22.6 million kilowatts/48.7 million kilowatt hours; The national electricity market traded 5.7 trillion kilowatt hours of electricity, a year-on-year increase of 7.9%... New developments in the energy sector continue to add vitality and momentum to the economy. What is the completion status of investment in key energy projects in China in 2023, as the growth rate of national energy investment remains relatively high? In 2023, the energy industry will comprehensively promote energy security and green low-carbon transformation, effectively leverage the driving role of energy investment, continuously unleash the investment potential of coal, electricity, and oil and gas infrastructure, and accelerate the physical workload of new energy and new business projects. According to monitoring, the completed investment in key energy projects under construction and planned to start construction within the year in China is about 2.8 trillion yuan, with a year-on-year growth rate 1.6 percentage points higher than the same period last year. Looking at new energy investment, the completed investment in solar power generation exceeded 670 billion yuan, and the year-on-year growth rate of centralized photovoltaic investment in Yunnan, Hebei, Xinjiang and other three provinces (regions) exceeded 100%. The completed investment in wind power exceeds 380 billion yuan, and onshore wind power investment in Liaoning, Gansu, and Xinjiang provinces (regions) is accelerating its release. Investment in new large-scale offshore wind power projects in Guangdong and Shandong provinces is concentrated. Looking at the investment in supportive regulatory power sources, the year-on-year growth rate of completed investment in supportive regulatory power sources exceeded 12%. Comprehensive progress has been made in the construction of nuclear power projects, and the physical workload of newly approved projects will be accelerated within the year. The investment in large-scale hydropower projects continues to recover and improve. Looking at the investment in new energy formats, the investment in comprehensive energy has grown rapidly, and a number of integrated source network, load storage, and multi energy complementary projects in the northwest region are accelerating. The investment in electrochemical energy storage in six provinces (regions, cities), including Xinjiang, Gansu, Hunan, Shandong, Chongqing, and Guangdong, has grown rapidly. A batch of green electricity hydrogen production projects in Inner Mongolia and Xinjiang are being orderly promoted. Zhang Xing, spokesperson for the National Energy Administration, stated at the press conference that in 2023, the National Energy Administration will actively promote the construction of key national energy projects. Overall, the growth rate of national energy investment will remain at a relatively high level. According to Bian Guangqi, Deputy Director of the Energy Conservation and Technology Equipment Department of the National Energy Administration, as of the end of 2023, the cumulative installed capacity of new energy storage projects that have been completed and put into operation in China has reached 31.39 million kilowatts/66.87 million kilowatt hours, with an average energy storage time of 2.1 hours. From the perspective of investment scale, since the 14th Five Year Plan, the addition of new energy storage installed capacity has directly driven economic investment of over 100 billion yuan, further expanding the upstream and downstream of the industrial chain, and becoming a new driving force for China's economic development. Bian Guangqi stated that from a technological perspective, new energy storage technologies are constantly emerging, and lithium-ion battery energy storage still occupies an absolute dominant position. Technologies such as compressed air energy storage, flow battery energy storage, and flywheel energy storage are developing rapidly. Since 2023, multiple 300 MW level compressed air energy storage projects and 100 MW level liquid flow batteries have been implemented
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：people.cn
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