In 2022, the country added 87.41 GW of solar. According to the NEA's figures, China deployed around 163.88 GW in the first 11 months of 2023 and around 53 GW in December alone. The NEA said investments in the Chinese PV market totaled CNY 670 billion ($94.4 billion) in 2023.
The China Solar PV Industry Association (CPIA) has once again adjusted its 2023 solar PV installation projections, now anticipating a new capacity ranging from 345 GW AC to 390 GW AC. China is poised to contribute up to 180 GW AC to the global total, driven by the expected launch of significant wind and solar energy projects by the end of 2023.
China's NEA said the country added 20.89 GW of new solar capacity in September, a 27% month-on-month increase. From January to September, newly installed PV capacity totaled around 160 GW. By the end of September, China's total installed power generation capacity reached 3.16 TW, up 14.1% year-on-year.
BNEF anticipates China's new PV capacity to reach 240 GW by the end of 2023 . The CPIA adjusted its forecast following China's installation of 142.56 GW AC PV in the first 10 months of 2023, marking a remarkable 145% year-on-year surge that surpassed its earlier prediction of 120 GW to 140 GW.
From January to September, newly installed PV capacity totaled around 160 GW. By the end of September, China's total installed power generation capacity reached 3.16 TW, up 14.1% year-on-year. Solar power capacity surged to 770 GW, a 48.3% increase, while wind power reached 480 GW, up 19.8%.
Based in Shanghai, he covers the latest market developments, company news, and industry trends in Greater China. China’s National Energy Administration (NEA) says solar installations reached 160 GW between January and September 2024, with cumulative capacity hitting 770 GW by August.
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