Wind and solar now account for 37% of the total power capacity in the country, an 8% increase from 2022, and widely expected to surpass coal capacity, which is 39% of the total right now, in 2024. Cumulative annual utility-scale solar & wind power capacity in China, in gigawatts (GW)
The numbers highlight over 216 gigawatts (GW) of solar power China built during the year. When the Asian superpower set its energy targets in 2020, aiming to achieve peak emissions by 2030 and carbon neutrality by 2060, most dubbed it ambitious.
Rystad Energy modeling shows total installed solar photovoltaic (PV) capacity in China will cross the 1,000 GW mark by the end of 2026. New capacity in 2023 is expected to top 150 GW, almost doubling the 87 GW installed in 2022. Our projections show that the significant acceleration is not going to slow anytime soon.
China is leading. In 2023 it installed 55% more solar capacity than the previous year, compared to 12% for the G7 and 5.9% for the rest of the world. For wind capacity, China’s additions rose by 21% in 2023, compared to 4.5% for the G7 and 5.3% for the rest of the world.
China added almost twice as much utility-scale solar and wind power capacity in 2023 than in any other year. By the first quarter of 2024, China’s total utility-scale solar and wind capacity reached 758 GW, though data from China Electricity Council put the total capacity, including distributed solar, at 1,120 GW.
China can now make more solar power than the rest of the world. Data released by China’s National Agency last week revealed that the country’s solar electric power generation capacity grew by a staggering 55.2 percent in 2023. The numbers highlight over 216 gigawatts (GW) of solar power China built during the year.
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