This report offers detailed insights into China’s PV landscape, highlighting record-breaking growth and technological leadership in the global renewable energy transition.
Key Developments in 2023:
- Record Growth in PV Installations: In 2023, China installed 216.3 GW of new PV capacity, a remarkable 147.5% year-on-year increase, bringing its total cumulative capacity to 609 GW. This underscores the nation’s position as a global leader in renewable energy, with solar power accounting for 6% of its electricity demand.
- Expansion in Centralized and Distributed PV: Centralized PV installations surged by 230.7% to 120 GW, surpassing distributed systems, which also grew significantly to 96.29 GW. This growth was driven by large-scale utility projects and distributed residential and commercial installations.
- Advancements in Policy and Technology: Supportive policies, including green certificates and mandatory solar installations, combined with innovations like n-type silicon wafers and bifacial modules, have driven efficiency improvements and cost reductions. Offshore and floating PV systems also gained momentum, reflecting China’s commitment to diverse applications.
Economic and Environmental Impact
The PV industry supported over 4 million full-time jobs in 2023 and contributed approximately 685 billion yuan to the economy. Energy storage capacity grew rapidly, integrating PV into a more resilient and sustainable energy system.
Commitment to the Future
China continues to lead the global PV industry with ambitious plans for expanding utility-scale projects in deserts and coastal regions, fostering innovation, and contributing to the global transition to sustainable energy.
