China's 2026 energy investment may reach $940 bln, new report says

Coal-fired power's share of China's power generation dropped to 49.7% in the first half of this year, the first time below 50%, as coal power is shifting from a primary power source to a backstop and system-regulating power source, Peng Huagang, president of the society, said.

Meanwhile, China's solar installed capacity surpassed coal-fired capacity for the first time in July, making solar the country's largest power source by installed size, while its combined wind and solar capacity reached 2,010 gigawatts (GW) by end-September, National Energy Administration (NEA) data showed.

The report notes that China has built the world's largest and fastest-growing renewable energy system. The country's renewable energy technologies remain globally dominant, supplying 70% of the world's wind power equipment and 80% of its photovoltaic (PV) modules and helping drive global wind and solar power generation costs down by more than 60% and 80% respectively.

The build-out comes against the backdrop of China's carbon peaking and carbon neutrality goals -- peaking carbon emissions before 2030 and achieving carbon neutrality before 2060.

Edited by Mason Ren, rengenyu@mysteel.com