China is on track to generate almost three times more power from wind turbines and solar panels by 2030 than targeted, reducing energy imports and lowering costs for consumers, and could become energy self-sufficient by 2060. A report from Goldman Sachs analysts suggests combined capacity from China’s solar and wind energy sector will reach 3.3 terawatts by 2030, exceeding the current target of 1.2TWh, and a 50% cut in imports is possible by the 2040s. By 2040, China will need to invest $2.26 trillion US in renewables and grid storage of around 520GW, they say. “As the Energy Internet expands, we expect it to enable more innovative power and transmission solutions such as virtual power plants, big data analytics, and in-time power dispatching, which in turn allow an even higher share of green power in the generation mix.”

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