- NEA says China’s total installed solar PV capacity at the end of 2023 expanded by 55.2% annually to 609.49 GW
- This represents 216.88 GW of new solar PV capacity addition in the country last year, according to the CPIA
- The country’s aggregate wind and solar PV capacity increased to exceed 1 TW, which means it is likely to achieve the 1.2 TW 2030 goal in 2024 itself
The year 2023 has turned out to be another milestone year for the Chinese solar energy market as the country’s total installed solar PV capacity increased to a cumulative 610 GW, according to the country’s National Energy Administration (NEA).
The 55.2% annual increase in China’s solar PV installations in 2023 pegs 2023 installations at 216.88 GW, says the China Photovoltaic Industry Association (CPIA) as per local media reports. It is a growth of 148.12% over the 87.41 GW NEA had reported for 2022 (see China Exited 2022 With 87 GW+ New PV Capacity).
While the NEA does not specify monthly installations, the CPIA says 53 GW alone came up in the month of December 2023. It is an increase of more than 148% over 21.32 GW reported for November 2023 and, on an annual basis, it is a growth of 144.24% over 21.7 GW added in December 2022.
At the end of December 2023, the total installed power generation capacity of China increased to 2.92 TW out of which solar PV accounted for 609.49 GW. Total installed wind power capacity too increased by 20.7% annually to around 440 GW, according to the NEA.
China has exceeded 1 TW of total deployment for solar and wind energy now, as against the 1.2 TW the government officially targets to achieve by 2030. The International Energy Agency (IEA) believes this goal will be achieved in 2024 (see 2023 Global RE Capacity Grew By 50% YoY To Nearly 510 GW).
In a press conference a day before the power generation statistics were released, the NEA stated, “At present, China’s wind power and photovoltaic products have been exported to more than 200 countries and regions around the world, with cumulative export volumes exceeding $33.4 billion and $245.3 billion respectively.”
The country is also fast adding energy storage capacity. At the end of 2023, China’s total installed energy storage capacity reached 31.39 GW/66.87 GWh with an average storage time of 2.1 hours. This comprises close to 22.6 GW/48.7 GWh installed in 2023 with an increase of over 260% from the end of 2022, added the NEA.
