Main Challenges and Countermeasures for New Energy Development in China Under the Construction of New Power System

China has a rich endowment of new energy resources, and with the support of policies and technological advances in the past 10 years, the new energy industry has been developing at a rapid pace. China has the largest installed capacity of new energy in the world, and has the world's leading manufacturing capacity throughout the industrial chain and supply chain. The future high-quality development of the new energy industry is one of the important ways for China to achieve clean, low-carbon, safe and efficient development of the power industry, and to achieve the goals of peaking carbon emissions and achieving carbon neutrality. However, in the process of building a new power system with new energy as the main body, China will face a series of problems such as economy, efficiency and safety. The specific manifestations are the significant increase of the overall grid connection and consumption cost of the system under the background of the rapid development of new energy, the inability to achieve the optimal allocation of power resources and regional cooperation due to the unsound market mechanism, the impact of the large-scale grid connection of intermittent power sources on the safe and stable operation of the system, the security risk of the supply of mineral resources and rare earth resources in the new energy manufacturing industry, etc. In order to meet these challenges, China should continue to strengthen the flexible regulation capacity of the power system, build a fair and efficient power market, give full play to the complementary effects of the multiple power conversion (Power-to-X), strengthen the development pattern of distributed energy and microgrids, and promote the development of circular economy and new energy.