China's installed capacity of new energy is expected to reach 1.88 TW by 2024, said the International Energy Agency (IEA) in the World Economic Outlook 2019, ranking first in the world.
India, Europe and the US followed with forecast installed capacity at 869 GW, 857 GW and 680 GW, respectively, said the agency.
As of end-2019, China has seen new energy capacity at 410 GW, marking a year-on-year rise of 16%, accounting for 20.6% of China's total installed capacity, according to a report released by State Grid China Energy Research Institute.
By 2035, the global photovoltaic power installed capacity is forecast to be 2.48 TW, accounting for 21% of the world's total power capacity.
Offshore wind power will see accelerating development and become a key in wind power development. By 2030, annual increase of offshore wind power capacity is expected to reach 20 GW, and the global offshore wind power capacity will reach more than 350 GW by 2040.
Preliminary estimation showed China's utilization rate of new energy could be kept above 95% in 2020. In 2021, alongside steady increase of the country's power consumption, Xinjiang, Tibet and northern Hebei are expected to see less difficulty in new energy utilization.
(Writing by Tammy Yang Editing by Jessie Jia)
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