MORE than $5 trillion-worth of investment will be required for China to achieve carbon neutrality by 2060, according to energy consultancy Wood Mackenzie. The figure includes additional power generation capacity required to accommodate the growth in electrification by 2050, with WoodMac anticipating total power output to expand near 2.5 times, to 18,835 terawatt-hours. In order to meet its carbon neutrality goal and its electrification needs, WoodMac claims China will need to increase solar, wind and storage capacities 11 times from current levels, to 5040 giga-watts by 2050.
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