China continues to add more solar PV capacity in a month than most countries do in a year, however its 12.9 GW additions in May 2023 declined MoM since in the previous month it had reported 14.65 GW. Nonetheless, capacity additions in May this year takes the country's total installed capacity during 5M/2023 to 61.21 GW. If growth continues at that level China would install around 147 GW in 2023.
Between January and April 2023, China installed 48.31 GW PV (see China Solar PV News Snippets).
According to the National Energy Administration (NEA) takes the country's total installed PV capacity to 454 GW (453.92 GW to be precise), representing annual growth of 38.4%.
During the reported 5-month period, China saw investments worth RMB 98.2 billion flowing into with an increase of 140.3% on annual basis, out of RMB 238.9 billion spent on power projects of major power generation enterprises in the country.
In comparison, for wind power the country installed only 16.36 GW new capacity during 5M/2023, including 2.16 GW in the month of May. Total installed power generation capacity of the country now stands at close to 2.67 TW, comprising 380 GW of wind power.
This shows the country has installed 77.5 GW out of 160 GW solar and wind energy capacity it aims to add within 2023 (see NEA Releases 2023 Energy Roadmap).