, China
Photo by Pixabay from Pexels.

Solar power to boost China’s generation capacity growth in 2023

It accounted for about half of the new capacity in 2022.

The growth of China’s power generation capacity in 2023 will continue to be led by solar installations, according to a report by CreditSights.

The country’s total installed capacity rose 7.8% year-on-year (YoY) in 2022 to reach 2,546 gigawatts (GW), with new solar installations of 86GW accounting for nearly half of the new capacity due to the declining costs of poly-silicon.

READ MORE: China, Australia drive Asia’s energy storage market: report

“We expect solar installation to continue to drive China's power capacity growth over the next three years as part of the country's goal to raise non-thermal generation capacity (ex-hydro) to 18% by 2025 from the current 16%,” CreditSights said, adding that it will also benefit from the top line growth of the State Power Investment Corp.

On the other hand, China saw a slowed capacity addition in the offshore wind due to the expiration of tariff subsidies, it said.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Trump 2.0 could thump India's solar ambition
Its solar companies may need to set up manufacturing plants in the US to bypass tariffs. 
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.