China reached 380 GW cumulative installed PV capacity at the end of April, according to new figures from the National Energy Administration (NEA).
China’s NEA said last week that the country’s cumulative installed PV capacity reached approximately 380 GW by the end of April 2023.
In the first four months of this year, the country added 48.31 GW of new PV systems, including around 15 GW in April alone. The NEA attributes the increase in PV capacity to delayed projects from 2022 and lower module prices.
The China Photovoltaic Industry Association (CPIA) said that China added 87.41 GW of new PV capacity in 2022. The CPIA predicts that new PV installations in China for this year will range between 95 GW and 120 GW.
China’s solar exports up 64% in 2022, will continue to dominate global PV manufacturing
China’s solar exports have continued to grow as demand from global consumers and developers increased, while its dominance in PV manufacturing will likely continue, according to Wood Mackenzie’s recent study.
Last year, China’s solar export revenue increased by 64% to US$52 billion thanks to high power prices driven by the energy crisis. Consumers and developers from around the world tended to buy more solar modules from China to lower the cost. From 2018-2021, China’s solar export revenue increased from only US$15 billion to US$32 billion.
Other research outfits have revised their outlooks for the Chinese PV market in 2023, with S&P projecting 150 GW and BloombergBNEF calling for 154 GW.
Part of the article excerpted from the network, infringement contact deleted.
