The ambition to turn the China The first real “electric state” on the planet has Beijing and the tendency of recent years testifies that the venture is evolving at a full rate.
At the center is the country’s detoxification from imports of fossil fuels. It should be noted that China introduced 11.1 million barrels of oil daily, from 11.3 million a year earlier. Its largest suppliers are Russia and S. Arabia.
In the case of natural gas, the country imports quantities through pipelines from Russia, as well as liquefied natural gas (LNG) from countries such as Australia. LNG imports are declining, as this August has fallen by 9% annually.
Beijing’s goal is to elect as much as possible in order to operate with domestic electricity instead of fuel. As China has a leading position in electricity technologies and in particular in photovoltaics and batteries, such a move has significant domestic added value, except for geostrategic benefits.
Renewable energy facilities indicate that there is a cosmogony taking place: 223 GW of photovoltaics were added during the first seven months of this year, ie 100 GW more than last year. Correspondingly, 45 GW windscreen were installed during the first half, as well as 335 GWh battery storage systems. These are overwhelming additions compared to Europe and the US.
At the same time, about one in two new cars now sold is electric, with China’s automakers starring internationally in the industry.
The above trends are also reflected in the consumption of the country’s electricity, which has been launched in recent years. Indicatively, China consumed 1,023 of electricity terraces in July, that is to say, the fourth economy of the planet, Japan, over a whole year.
We are talking about an annual rise in 8.6%, which, unlike previous decades, is not only due to economic growth (+5.2% in the first half), but also to electricity.
Indicatively, home electricity consumption and service sector have doubled since 2019, and the Chinese industry has also been “gas” with +4.7% in the last year.
It remains to be seen until China’s capabilities arrive, as from one point and after restrictions, such as the electricity grid, they may put a brake on the development of production and demand for electricity.