According to the Zhitong Finance APP, the first half of 2024 experienced significant development differences in various sectors of new energy. The photovoltaic industry is facing a chilly climate, and the energy storage industry is expected to continue to develop steadily. The hydrogen energy industry is benefiting from strong policy support and is expected to achieve rapid growth. According to CINNO Research statistics, the total investment in China's (including Taiwan) new energy projects in the first half of 2024 reached 2.1 trillion yuan, a decrease of 57.1% compared to the same period last year.

Internal funding flow of the new energy industry:

In the first half of 2024, the main investment funds in China's (including Taiwan) new energy industry flowed mainly into the wind power and photovoltaic industries, with an amount of about 1 trillion yuan, accounting for about 49.4%, a decrease of 55.4% compared to the same period last year; the total investment in batteries was about 333.9 billion yuan, accounting for about 16.0%, a decrease of 69.9% compared to the same period last year; the total investment in energy storage was about 260.9 billion yuan, accounting for about 12.5%, a decrease of 71.7% compared to the same period last year; the total investment in hydrogen energy was about 397.5 billion yuan, accounting for about 19.1%, a decrease of 13.4% compared to the same period last year.

The three major investment entities in the new energy industry:

The three main investment areas in the new energy industry include wind power and photovoltaic, batteries, and energy storage. In the first half of 2024, the investment funds in China's (including Taiwan) photovoltaic industry mainly flowed into photovoltaic cells, amounting to about 210.3 billion yuan, accounting for about 40.0%; while the investment funds in the wind power industry mainly flowed into wind power operation projects, amounting to about 474.3 billion yuan, accounting for about 94.9%; the investment funds in batteries mainly flowed into battery cells, amounting to about 140.1 billion yuan, accounting for about 41.9%; the investment funds in energy storage mainly flowed into electrochemical energy storage, amounting to about 129.7 billion yuan, accounting for about 49.7%.

In terms of regional distribution, new energy investments are mainly concentrated in Inner Mongolia, Anhui, Jiangsu, Heilongjiang, Guizhou, and other areas, with the top five regions accounting for about 40.7% in total.

Data shows that in the first half of this year, the newly installed capacity of renewable energy in China reached 0.134 billion kilowatts, a year-on-year growth of 24%, accounting for 88% of the national newly installed power capacity. Among them, hydropower added 4.99 million kilowatts, wind power added 25.84 million kilowatts, solar power added 0.102 billion kilowatts, and biomass power added 1.16 million kilowatts. As of the end of June, the installed capacity of hydropower was 0.427 billion kilowatts, wind power was 0.467 billion kilowatts, solar power was 0.714 billion kilowatts, and biomass power was 45.3 million kilowatts. The combined installed capacity of wind power and photovoltaics has exceeded that of coal-fired power.

The new energy industry remains a highly attractive investment sector in the emerging technology field. With the continuous deepening of the country's energy transformation, wind power, solar energy, and other new energy sources are injecting strong impetus into economic growth.