Core Insights - The 2024 total electricity investment in China is projected to reach 181.78 billion yuan, with a year-on-year growth of 13.9%, although the growth rate has slowed by 10.8 percentage points compared to the previous year [2] - The investment structure shows a ratio of approximately 2:1 between power generation and grid investments, with wind and solar energy accounting for 63.2% of the power generation sector [1] Investment Trends - Grid investment is expected to hit a record high of 60.84 billion yuan in 2024, marking a year-on-year increase of 15.3%, and for the first time surpassing 60 billion yuan [2] - Thermal power investment is experiencing a resurgence, projected at 18.79 billion yuan in 2024, reflecting a significant year-on-year growth of 38.0% [2] - Hydropower investment is anticipated to reach 11.54 billion yuan in 2024, with a year-on-year increase of 12.2%, driven by new projects coming online [2] - Nuclear power investment is forecasted to be 14.19 billion yuan in 2024, showing a robust year-on-year growth of 41.6% [2] Renewable Energy Developments - Wind power investment is set to recover, reaching 31.63 billion yuan in 2024, with a year-on-year growth of 10.9% [3] - Solar power investment remains the highest at 44.78 billion yuan in 2024, but growth is limited to only 1.9% due to challenges in distributed solar energy [3] - New energy storage capacity is expected to grow significantly, with an estimated investment of around 140 billion yuan in 2024, despite a projected slowdown in growth due to policy changes [3] Regional Insights - In the southern five provinces, new energy generation capacity is expected to add 59.17 million kilowatts in 2024, accounting for 73.9% of the total new power generation capacity [4] - By the end of 2024, the cumulative installed capacity of new energy in these provinces is projected to exceed 190 million kilowatts, reflecting a year-on-year growth of 44.7% [4] - The Guangdong-Hong Kong-Macao Greater Bay Area is expected to reach a total new energy installed capacity of 18.68 million kilowatts in 2024, indicating a gradual increase in green energy integration [4]
去年我国电力投资1.8万亿 风电和光伏占比超六成