China Renewable Energy Market Overview, 2030

China stands as a worldwide leader in renewable energy, in terms of both capacity and financial investment. Over recent decades, the nation has shifted from a heavy reliance on coal to establishing itself as the globe's largest producer and consumer of renewable energy, a transition propelled by environmental issues, energy security, and economic progress. The renewable energy journey for China initiated in the late 20th century, as it began to seek clean energy options due to the rising demand for electricity and the detrimental environmental effects associated with coal usage. In the 2000s, the government prioritized substantial investments in the advancement of renewable energy technologies, focusing especially on wind and solar. The introduction of the Renewable Energy Law in 2005 represented a crucial turning point in the nation's renewable energy policies. This legislation established a legal framework for the growth of wind, solar, and bioenergy, forming the groundwork for the expansion of renewables. China has emerged as the largest global manufacturer of solar panels and wind turbines, with both sectors benefiting from significant government assistance, which includes subsidies, incentives, and feed-in tariffs. This backing enabled China to quickly enhance its renewable energy capacity. By 2020, China was at the forefront of solar and wind power installations, making a substantial contribution to the worldwide growth of renewable energy. The initiatives undertaken by the country are part of a broader green energy transition, with ambitious targets set for achieving carbon neutrality by 2060 and reaching peak emissions by 2030. As of now, China has sustained its efforts to decrease coal dependence, develop cleaner energy alternatives, and invest in new technologies such as hydropower, bioenergy, geothermal, and offshore wind. With ongoing expansion in renewable energy infrastructure, China's renewable energy market is poised to remain a global leader in the decades ahead, playing a vital role in influencing the global energy framework.

According to the research report, "China Renewable Energy Market Overview, 2030," published by Bonafide Research, the China Renewable Energy market is anticipated to grow at more than 9.95% CAGR from 2025 to 2030. The renewable energy market in China has undergone swift expansion fueled by governmental policies, technological progress, and ecological objectives. The nation stands as a worldwide leader in multiple renewable energy fields, including solar power, wind energy, hydropower, and bioenergy. The evolution of renewable energy in China commenced in the early 2000s with substantial investments in wind and solar technologies. In 2005, the Renewable Energy Law was established, which provided a legal foundation that fostered the development of the renewable energy industry. Over time, China constructed the globe's largest wind farms and solar panel manufacturing plants, becoming a prominent exporter of photovoltaic (PV) panels and wind turbines. The implementation of feed-in tariffs and subsidy programs significantly enhanced the sector. The nation’s extensive hydropower infrastructure also traces back to the 20th century, positioning China as the leading producer of hydropower worldwide. Opportunities within China's renewable energy market are extensive, propelled by its ambitious carbon neutrality target by 2060 and its drive for energy transition. The demand for solar is rising, particularly in the residential market, along with offshore wind initiatives, electric vehicles (EVs), and energy storage solutions. The transition from coal to cleaner energy alternatives offers considerable market potential for both established and emerging renewable technologies. Green hydrogen and smart grids are also coming forth as significant opportunities in China's energy landscape. The Chinese government has a pivotal role in advancing renewables through policy incentives like subsidies, tax reductions, and financial grants. Furthermore, China has initiated programs such as green energy auctions and green bonds to draw private investments. Local manufacturers of renewable energy technologies receive substantial support in international markets, establishing China as a leading player in renewable energy exports.

China's renewable energy market showcases a wide variety of renewable sources that contribute to the nation’s increasing energy capacity. The market is primarily characterized by hydropower, wind power, solar energy, bioenergy, and geothermal energy, each of which is essential to China’s energy transition. Hydropower stands as the largest renewable energy source in China, accounting for over 50% of the nation's renewable electricity generation. China holds the title of the world’s leader in hydropower, featuring colossal projects such as the Three Gorges Dam, recognized as the largest hydroelectric facility globally. The country has persistently been enhancing its hydropower capacity, especially in the southwestern area, where the Yangtze and Mekong rivers offer substantial potential for new projects. China possesses the highest installed capacity for wind energy worldwide. Given its expansive landmass and advantageous conditions, particularly in the northwest and northeast, wind energy has emerged as a fundamental element of China’s renewable energy growth. Wind farms, which include both onshore and an increasing number of offshore installations, significantly bolster China’s clean energy production. The government’s favorable policies, such as feed-in tariffs and capacity auctions, have facilitated the swift expansion of this sector. Solar power represents one of the quickest growing renewable energy sources in China. The nation ranks as the largest producer and user of solar panels, with solar energy initiatives flourishing across residential, commercial, and utility-scale projects. China’s solar capacity is fueled by both local demand and its position as the global frontrunner in solar panel manufacturing. The government's commitment to investing in solar farms and promoting distributed generation is pivotal for the sector’s growth. Bioenergy serves as a vital renewable energy source in China, notably in rural regions where biomass from agricultural and forestry waste is harnessed for biogas production, biodiesel, and biomass power plants. China has made considerable investments in biofuels, aligning with its strategy to diversify energy sources and lower emissions.

China’s renewable energy market is varied, with main sectors such as industrial, residential, and commercial all playing a part in the progress of the renewable energy industry. Each end-user sector significantly contributes to the country’s shift towards clean and sustainable energy. The industrial sector stands out as the top consumer of renewable energy in China, fueled by the nation's vast manufacturing foundation. China’s industrial sector, encompassing steel, cement, textiles, and electronics, represents a considerable share of the nation's energy use. In order to fulfill its environmental and sustainability targets, numerous industries are turning to renewable sources like solar, wind, and bioenergy to lessen their carbon footprint and energy expenditures. Large factories and industrial complexes are progressively implementing solar rooftop installations and putting resources into wind energy to power their activities. Government incentives, like subsidies for energy-efficient technologies, further encourage the utilization of renewable energy in this sector. The residential sector in China is witnessing swift adoption of renewable energy, specifically solar power. As electricity costs increase and environmental issues intensify, an increasing number of homeowners are setting up solar panels on rooftops to lower energy bills and achieve energy autonomy. In rural regions, biogas from agricultural waste serves as a source for cooking and heating, providing an alternative to conventional fossil fuels. The government has also backed solar home systems, particularly in remote regions, as part of its rural electrification and poverty reduction initiatives. Furthermore, there is rising interest in electric vehicles (EVs), bolstered by the move towards cleaner transport and energy options. The commercial sector, which includes offices, retail, and service industries, is also a vital component of China’s renewable energy market. Solar power is gaining traction among businesses aiming to cut operational expenses and enhance sustainability. Numerous commercial buildings are incorporating solar panels for energy generation, while some are investing in wind power and geothermal alternatives. Green building certifications and regulations focused on decreasing carbon emissions are amplifying the requirement for renewable energy in the commercial landscape.


Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030



Aspects covered in this report
• Renewable Energy Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Hydropower
• Wind Power
• Solar Energy
• Bioenergy
• Geothermal
• Others

By End-User
• Industrial
• Residential
• Commercial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.