China is on track to spend US$940 billion on energy this year, the highest of any country, according to a report from the China Enterprise Reform and Development Society. The country already accounts for 63.6% of global renewable capacity additions, and its renewable electricity generation covered all of the growth in domestic power demand last year. Grid investment is becoming a bigger part of the picture, with the IEA expecting China to spend around US$140 billion on power grids this year as it works to connect and absorb new wind and solar. The report also notes coal's share of China's electricity generation fell below 50% in the first half of this year for the first time, a sign coal is moving toward a backup and balancing role. China still makes up about 30% of global greenhouse gas emissions, so the speed and scale of its transition matters far beyond its own borders. The report says its emissions fell 0.5% last year while US emissions rose 2.4%.
