China is expected to invest US$940 billion (HK$7.33 trillion) in energy in 2026, ranking first in the world, according to the Global Energy Transition Report 2026 released by the China Enterprise Reform and Development Society.
China recorded 2.337 billion kilowatts of installed renewable power capacity by the end of 2025, accounting for 63.6 percent of new renewable installations globally, CCTV reported on Sunday.
Renewable energy generation reached 3.99 trillion kilowatt-hours, contributing 38.3 percent of the country's power output, with additional renewable generation fully covering the increase in electricity consumption, the report said.
Coal-fired generation made up less than half of China's electricity mix for the first time, standing at 49.7 percent in the first half of 2026, the report added.
China supplied 70 percent of the world's wind power equipment and 80 percent of its photovoltaic equipment, which has driven down global wind and solar power generation costs by more than 60 percent and 80 percent, respectively, underscoring its leading position in renewable energy technology.
AI reshapes energy investment
Notably, the report pointed out that the worldwide artificial intelligence boom is reshaping the energy investment landscape.
As natural gas-fired power's high stability and rapid construction could quickly fulfill the surging electricity demand from data centers, the rapid expansion of data centers has led to a surge in gas turbine orders and prices, while also propelling the development of emerging technologies such as small modular reactors.
Tech firms are also becoming major player in energy investment, securing their power supply through ways like power purchase agreements, mergers and acquisitions, and self-built facilities.
Looking ahead, the report noted that the rise in energy security priorities, a cyclical rebound in coal demand, and sporadic volatility in oil and gas prices will be evident in the short term amid a complex international environment.
In the long-term view, wind and solar power will shift from scale expansion to quality-driven growth, while nuclear energy is set for a revival, the report said, adding that hydrogen and biomass are accelerating their exploration toward commercial-scale deployment.
