Core Insights - The National Energy Administration reported that China's total electricity consumption reached 77,675 billion kilowatt-hours in the first three quarters of the year, marking a year-on-year increase of 4.6% [1] - The sales of new energy vehicles in China reached 8.088 million units in the first eight months of 2025, representing a year-on-year growth of 30.1%, which has led to increased electricity demand [1] - The new energy system in China is characterized by a multi-layered energy structure, flexible coordination among various components, and a trend towards overall cleanliness and intelligence [1][2] Multi-layered Energy Structure - In 2022, extreme weather and rapid economic growth led to a widening gap between electricity demand and supply, prompting several provinces to issue orderly electricity usage notifications [2] - The integration of wind and solar energy in projects, such as the one in Yunnan, demonstrates the ability to provide clean energy and optimize energy consumption patterns [2][3] - Thermal power remains a crucial component of the energy system, providing stability and support for renewable energy [3] Source-Grid-Load-Storage Coordination - The new energy system operates on a model that emphasizes the collaboration of power sources, grids, loads, and storage to optimize energy utilization and ensure stable power supply [4] - The use of supercritical technology in thermal power plants allows for rapid adjustments to match the fluctuating output of renewable energy sources [5] Grid Infrastructure - The construction of a unified national grid and breakthroughs in ultra-high voltage transmission technology have facilitated the delivery of wind and solar energy to distant load centers [6] - As of May, China has completed 43 ultra-high voltage projects, significantly supporting electricity demand in the eastern and central regions [6] Technological Innovations - Companies like Changlan Technology are actively involved in the development of high-voltage cable accessories, which are essential for efficient power transmission [7] - Innovations in energy storage, such as Zhejiang's record-breaking storage capacity, enhance the system's ability to manage peak loads [7][8] Transition to Overall Formation Period - China's new energy system is transitioning from the acceleration phase to the overall formation phase, with a focus on cleaner energy sources and smarter grid technologies [9] - The country is leading globally in renewable energy capacity, grid infrastructure, and technological innovations, which are crucial for economic growth [9] Challenges Ahead - Key technologies and materials, such as flexible direct current transmission and long-duration energy storage, require further development [10] - The integration of artificial intelligence with power development and the establishment of a robust electricity trading market remain significant challenges [10]