China outlines $2.8 trillion energy investment in 15th Five‑Year Plan

China’s National Development and Reform Commission and the National Energy Administration released a new‑energy system plan for the 2026‑2030 “15th Five‑Year” period. The plan sets 12 key targets, three of which are binding – overall energy production capacity, the share of non‑fossil fuels in primary energy consumption, and the reduction of carbon emissions per unit of electricity generated. The government projects total investment in energy projects and new‑energy business exceeding 20 trillion yuan (about $2.8 trillion), with an average annual outlay of more than 4 trillion yuan.

Key elements include expanding renewable generation to supply over half of total electricity, raising non‑fossil energy’s share of primary consumption to 25 % by 2030, and strengthening the power grid, storage, virtual power plants, green hydrogen, and AI‑driven energy management. Coal and oil use are to peak, while the nation seeks to secure diversified fossil‑fuel supply routes for energy security. The plan is intended to advance China’s “dual‑carbon” goals of peaking emissions before 2030 and achieving carbon neutrality by 2060.