China poised to reach 5.5 TW of solar by 2050
- Admin
- Apr 27, 2024
- 1 min read
China is projected to expand its solar capacity significantly, reaching 5.5 TW by 2050, which includes solar and solar-plus-storage systems, according to DNV's 'Energy Transition Outlook China 2024' report. This growth is supported by the low costs of solar production and strong policy frameworks. The surge in renewable energy, particularly solar, which is anticipated to contribute 38% to the electricity mix by 2050, underscores China's shift towards a low-carbon economy. Solar-plus-storage technology is expected to be integral, making solar energy competitive by reducing costs to as low as $24/MWh for solar and $44/MWh for combined systems by 2050.
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