2025年上半年中国新能源产业投资金额1.4万亿元，同比下降32.2%

Core Viewpoint - The investment in China's new energy projects in the first half of 2025 is approximately 1.4 trillion RMB, reflecting a year-on-year decrease of 32.2%, yet it remains one of the most dynamic investment directions in the technology sector, particularly in next-generation battery technology and smart grid areas [1][2]. Investment Trends - The investment landscape in the new energy sector shows a trend of "one rise and multiple declines" in the first half of 2025. Wind and solar power, traditional strongholds, accounted for 5,604 billion RMB, representing 40.8% of the industry share, but saw a year-on-year decline of 44.4%. Wind power investment reached 3,654 billion RMB, while solar power investment was 1,950 billion RMB, indicating a saturation in the market [4]. - The energy storage sector emerged as a highlight with an investment of 2,799 billion RMB, achieving a year-on-year growth of 10.5%, increasing its share to 20.3%. This growth is attributed to breakthroughs in new energy storage technologies and a surge in demand for grid-side storage [4]. - Investments in the battery sector totaled 2,430 billion RMB (17.7% share) and hydrogen energy investments were 2,304 billion RMB (16.8% share), both experiencing declines of 25.8% and 40.2% respectively, indicating a shift of capital towards areas with greater growth potential [4]. Sector Characteristics - In the wind and solar sectors, solar power investment totaled 1,950 billion RMB, with solar power station projects receiving 918 billion RMB, accounting for 47.1%, highlighting the focus on large-scale centralized power stations. Wind power investment was highly concentrated, with 3,524 billion RMB in operational projects making up 96.4% of total wind investment [5]. - In the battery sector, 2,430 billion RMB was invested, with the cell manufacturing segment receiving 1,242 billion RMB, representing 51.1%, indicating continued capital interest in core manufacturing as new battery technologies advance [5]. - In the energy storage sector, 2,799 billion RMB was invested, with pumped storage accounting for 1,482 billion RMB (52.9%), maintaining its dominant position, while investments in new energy storage technologies are steadily increasing [5]. Regional Distribution - The investment in new energy in the first half of 2025 exhibited significant regional concentration, with Inner Mongolia and Xinjiang leading at 15.1% and 11.7% respectively, contributing to a total of 42.9% of the industry’s total investment when combined with provinces like Sichuan, Jiangsu, and Fujian [8]. - This distribution pattern is closely related to local resource endowments and policy support, with Inner Mongolia leveraging its abundant wind and solar resources, and Xinjiang attracting substantial investment due to its energy transition demonstration zone [8]. Future Outlook - The new energy industry in China is expected to enter a new phase of high-quality development in 2025, driven by policy support and technological innovation. The installed capacity for wind and solar power has surpassed 1.4 billion kilowatts, and the penetration rate of the new energy vehicle market is projected to exceed 60% [9]. - The development of new power systems is accelerating, with large-scale integration projects for source, grid, load, and storage being promoted, significantly enhancing the capacity for renewable energy consumption [9].