China is set to invest heavily in new energy projects, with investment expected to reach 9.2 trillion yuan in 2022, according to a report by CINNO Research. The report highlights that the new energy industry has become a crucial area for investment for emerging technology industries.
The report highlights that the most extensive use of new energy is mainly in the electric power and new energy vehicle sectors. New energy refers to unconventional energy sources such as solar, wind, geothermal, ocean, biomass, and nuclear fusion energy. The term also encompasses new energy vehicles, energy storage, and comprehensive energy solutions.
CINNO Research predicts that in 2022, investment funds in the new energy industry in China will mainly go towards wind power and photovoltaics, with an amount of approximately 3.4 trillion yuan, accounting for around 36.9% of the total investment. The total investment in energy storage is estimated to be 27 billion yuan, accounting for about 29.3% of the total investment.
The report also states that the total investment in lithium battery energy storage is 2.2 trillion yuan, accounting for about 23.6% of the total investment. Meanwhile, the total investment in hydrogen energy is expected to exceed 680 billion yuan, accounting for about 7.4% of the total investment.
Overall, the new energy industry is in a stage of rapid growth and is expected to continue to maintain its rapid growth in the next three to five years. This growth is expected to become an important engine for China's future economic development.
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