China's wind power, photovoltaic and other renewable energy generation costs continue to decline and economic benefits improve

China's installed capacity of hydropower, wind power and photovoltaic power generation ranked first in the world in 2018, according to a report on China's renewable energy development 2018 held by the general institute of hydropower and water resources planning and design. Renewable energy technologies such as wind power and photovoltaic power generation are advancing rapidly, costs are continuing to fall, economies are significantly improving, and future development space is infinite.

Director of the national energy administration regulation li zhi said in his speech, in recent years, the proportion of renewable energy in China continue to improve, progress of energy structure adjustment, by the end of 2018, renewable energy generation capacity accounts for 38.4% of the total electricity generation, electricity accounted for 26.7% of all electricity generated, in primary energy consumption accounted for up to 12.4%, clean green low carbon energy system is taking shape. In the future, the development model of renewable energy will be transformed from high-speed development to high-quality development. The types of technologies and application models will undergo profound changes, and the economic benefits will be further highlighted.

According to the press conference, the average cost of China's onshore wind power projects in 2018 was further lower than that in 2017. The average cost per kilowatt was about 7,100 yuan, and the cost per kilowatt of some wind power projects in some regions was less than 6,000 yuan. Photovoltaic power generation capacity continued to expand, large-scale development led to the cost reduction, annual average unit kilowatt cost of about 5500 yuan, down 15% year-on-year, some photovoltaic power station unit kilowatt cost has been less than 5000 yuan.

At the same time, China's renewable energy "go out" has also made achievements. "Relying on the technological advantages of hydropower, wind power and photovoltaic power generation, renewable energy has become a key cooperation area of the One Belt And One Road." China power construction group chairman yan zhiyong said.

By the end of 2018, China's installed capacity of renewable energy power generation was 728.96 million kilowatts, an increase of 76.44 million kilowatts over 2017, zheng shengan, President of the general institute of hydropower, said in releasing the report. The annual output of renewable energy was 1.867 billion KWH, 170.5 billion KWH more than in 2017. The mix of energy consumption was further improved, and the share of renewable energy in the total energy supply increased significantly.

The report predicts that by 2020, the installed capacity of renewable energy will reach 882 million kilowatts, and the long-term system and mechanism of consumption will be constantly improved to further improve the utilization rate of power generation and resources.