Chinese Solar Installations Growing Strong

• According to the NEA, China installed 18.74 GW of new solar PV capacity in July 2023 
• It takes the national total for 7M/2023 to 97.16 GW, reflecting an annual increase of 59.43 GW  
• Cumulative installed PV capacity of China now stands at around 490 GW, with 42.9% annual improvement

The cumulative installed solar PV capacity of China has reached around 490 GW with the deployment of an additional 18.74 GW in the month of July 2023, according to latest statistics released by the country's National Energy Administration (NEA).  

Compared to 37.73 GW PV capacity the country installed between January 2022 and July 2022, the NEA says China registered a growth of 59.43 GW to take the cumulative this year to 97.16 GW. The July volume is almost 9% higher than the 17.21 GW reported for June 2023 (see China PV News Snippets).  

The world's largest solar PV market is anticipated by the local PV association CPIA to exit 2023 with 120 GW and 140 GW capacity (see CPIA Raises Solar Installation Forecast For 2023).  

On an annual basis, the country's solar power capacity improved 42.9% to 490 GW out of 2.74 TW total power generation volume of the country at the end of July 2023. To this, wind power contributes about 390 GW.  

Together, the total installed solar PV and wind energy capacity of China now stands around 880 GW with just 320 GW left for it to reach the 2030 national target of 1.2 TW capacity. The Global Energy Monitor believes the target will be reached 5 years early, by 2025 (see Chinese RE Growth Progressing Fast).