我国发电装机容量将超38亿千瓦，相当于169个三峡，全球占比超1/3

Core Insights - The Chinese power industry is rapidly transitioning to green energy and expanding its capacity, with projections indicating that by the end of 2025, installed power generation capacity will exceed 3.8 billion kilowatts, representing over one-third of the global total [1][7][21] Installed Capacity Growth - As of the first quarter of this year, China's installed capacity for wind and solar power has reached 1.48 billion kilowatts, surpassing that of thermal power, marking a significant milestone in energy structure adjustment [3][9] - The report forecasts that the total new installed capacity for 2025 will exceed 450 million kilowatts, with more than 300 million kilowatts coming from renewable energy sources, accounting for over two-thirds of the total [5][21] Non-Fossil Energy Development - By the end of March, the total installed capacity of non-fossil energy reached 2.03 billion kilowatts, a year-on-year increase of 23.4%, making up 59.1% of the total installed capacity, an increase of 4.2 percentage points from the previous year [9][12] - Wind and solar power are the key drivers behind the increase in non-fossil energy capacity, with nearly 90% of new installed capacity in the first quarter coming from these sources [11] Coal Power Transition - The share of coal power in the energy mix has fallen below 50% across all provinces as of March, reflecting a strong commitment to energy structure adjustment [12][20] - Coal power is transitioning to a regulatory role, supporting the integration of renewable energy while ensuring stable power supply [12][21] Grid Infrastructure and Smart Technology - The rapid expansion of installed capacity and the green transition in the power sector are raising demands for grid capacity and intelligence [14][16] - In the first quarter, grid investment reached 95.6 billion yuan, a year-on-year increase of 24.8%, with grid equipment investment rising by 59.5% [14] - The industry is leveraging advanced technologies like big data and artificial intelligence to enhance grid stability and flexibility, facilitating the integration of renewable energy [18] Future Outlook - The overall power supply and demand situation is expected to remain balanced, with projected electricity consumption in 2025 reaching 10.4 trillion kilowatt-hours, a year-on-year growth of around 6% [18][20] - The Chinese power sector aims to continue its commitment to energy revolution, focusing on increasing the share of non-fossil energy and enhancing grid infrastructure to support large-scale renewable energy integration [21][23]