Core Insights - The report highlights the continued dominance of renewable energy in China's power sector, with a significant acceleration in the green and low-carbon transition [1] Group 1: Market Transactions and Growth - In 2024, the total market transaction volume reached 6.18 trillion kilowatt-hours, a year-on-year increase of 9.0%, accounting for 62.7% of total electricity consumption, up 1.3 percentage points from the previous year [2] - Renewable energy's market participation reached 1.01 trillion kilowatt-hours, representing 55% of total renewable generation [2] - The issuance of green certificates reached 4.734 billion, a year-on-year increase of over 28 times, with a total trading volume of 446 million certificates, quadrupling from the previous year [2] Group 2: Electricity Consumption Trends - In 2024, total electricity consumption was 9.85 trillion kilowatt-hours, growing by 6.8%, with the secondary industry contributing nearly half of this growth [4] - The secondary industry's electricity consumption was 6.39 trillion kilowatt-hours, up 5.2%, making up 64.8% of total consumption [4] - High-tech and equipment manufacturing sectors saw a significant increase in electricity usage, with solar equipment manufacturing up 19.2% and new energy vehicle manufacturing up 34.3% [4][5] Group 3: Supply Side Developments - By the end of 2024, total installed power generation capacity reached 3.35 billion kilowatts, a year-on-year increase of 14.6%, with solar power capacity growing by 45.4% [7] - Non-fossil energy sources accounted for 87.3% of new installed capacity, with wind and solar power making up 82.6% of the total new capacity [7] - Total investment in power generation projects reached 1.2094 trillion yuan, a year-on-year increase of 13.2%, with non-fossil energy investment accounting for 84.6% of total investment [7] Group 4: Reliability and Quality of Renewable Energy - The installed capacity of wind and solar power reached 1.41 billion kilowatts, surpassing coal power for the first time [8] - The reliability of solar power was recorded with an equivalent availability factor of 99.84%, indicating a shift towards high-quality development in renewable energy [8]