In China, 47.4GW of coal power capacity came online in 2023, GEM says. This increase accounted for two-thirds of the global rise in operating coal power capacity, which climbed 2% to 2,130GW.
China’s 70.2GW of new construction getting underway in 2023 represents 19-times more than the rest of the world’s 3.7GW. As the figure below highlights, the country’s trajectory (red line) is diverging significantly from the rest of the world (orange line).
I was considerably happier before I knew this. Hopefully coal prices will continue to increase, and they won’t end up burning more coal even though their capacity has increased. From what I’ve read, it’s mainly provincial governments trying to boost their economic statistics that are responsible for this building spree.
“Massive coal” was twenty years ago. India is “massive coal” now.
They have an electric car that costs $10,000.
They are quickly switching from Li batteries to Na, which will not require Ni or Co either.
They have a mixture of capitalism and central planning, so it’s not entirely fair to call them “non-capitalist”.
Not far in the past.
https://www.carbonbrief.org/china-responsible-for-95-of-new-coal-power-construction-in-2023-report-says/
I was considerably happier before I knew this. Hopefully coal prices will continue to increase, and they won’t end up burning more coal even though their capacity has increased. From what I’ve read, it’s mainly provincial governments trying to boost their economic statistics that are responsible for this building spree.