China’s electricity demand jumped 5 percent in 2025 — an extra 494 terawatt hours — but for the first time in a decade, coal didn’t rise to meet it. Instead, carbon-free power filled the gap, fueled by surging renewables and steady gains in nuclear and hydro.
“At the heart of this transformation is the unprecedented expansion of renewable energy capacity,” says Sharon Feng, senior research analyst at Wood Mackenzie. Over the past decade, China’s wind and solar capacity have increased more than tenfold, reaching 1,842 gigawatts.
Costs have collapsed along the way. Since 2015, the levelized cost of utility-scale solar has fallen 77 percent and onshore wind 73 percent, pushing renewables into direct competition with fossil fuels. The result: a rush of capital as developers and investors scramble for position in a rapidly reshaping market.
The buildout goes beyond wind and solar. Nuclear capacity has climbed from 27 gigawatts in 2015 to 62 today, while
