China’s solar capacity and exports continue historic surge.
“China’s solar sector is set to break records in the coming years. When installed capacity crosses the 500 gigawatts (GW) mark by the end of 2023, it will have taken 13 years to reach that milestone. That total, however, will be doubled to 1 terawatt (TW) in just three additional years. Rystad Energy modeling shows total installed solar photovoltaic (PV) capacity in China will cross the 1,000 GW mark by the end of 2026.” Rystad Energy
ACCELERATING GROWTH
Carbon Brief, 21 Sept 2023, reported that China’s solar capacity is expected to reach 1,000GW by 2026, said energy consultancy Rystad Energy.
It found that China will likely install 150GW of solar capacity in 2023, bringing the total up to 500GW – or “40% of global capacity”. By comparison, overall US solar capacity stands at 145 GW, or 12% of the global total.
In its coverage of the Rystad analysis, Reuters highlighted that, by the end of 2022, China had installed 365GW of wind power capacity and 392GW of solar capacity.
Meanwhile, energy news outlet IN-EN.com reported that China’s solar power generation in August rose by 14% year-on-year, double the pace of year-on-year growth recorded in July.
BJX News said that China had already installed more than 100GW in the first eight months of 2023, with additions standing at 113GW by the end of August.
SOLAR EXPORTS SOARING
Meanwhile, China’s solar-panel exports saw a 34% year-on-year increase in the first half of 2023, said industry news outlet EnergyPortal.eu, covering new research by energy thinktank Ember. It found that Europe received just over half of China’s exported solar panels, followed by Brazil at 8% of total exports.
Sources:
- Carbon Brief, 21 Sept 2023
- https://www.in-en.com/
- https://www.energyportal.eu/