Also in Q1, China’s cumulative installed capacity of power generation reached 2,990GW, representing a year-on-year growth of 14.5%. The installed capacity from solar PV was around 660GW, increasing by 55% year-on-year. Moreover, the installed capacity of wind power reached about 456.6GW, showing a year-on-year increase of 21.5%.
Moreover, in Q1, the cumulative average utilisation of solar power generation facilities in China was 279 hours, decreasing by 24 hours year-on-year.
China has been increasing its installed solar capacity as it enjoyed impressive growth in 2023. According to the National Energy Administration of China, new solar installations reached 216.88GW last year, representing a year-on-year increase of 148.12%.
New solar PV installations amounted to 53GW for the month of December, increasing by 144.24% year-on-year and representing nearly a quarter of the entire year’s solar capacity additions. Centralised PV power stations and distributed PV systems saw an addition of 82.7GW and 44.9GW, respectively throughout the year.
| PV Tech publisher Solar Media will be organising the Solar Finance & Investment Asia Summit in Singapore, 24-25 September. The event will bring together the most influential leaders representing funds, banks, developers, utilities, government and industry across the Asia-Pacific region on a programme that is solutions-focused from top to tail. For more information, including how to attend, please go to the official website. |
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