CHINA SOLAR POWER UP BY 29%
IEEFA - December 02, 2022 - China’s installed solar capacity reached 360GW at the end of October 2022, a 29% increase year-on-year, according to figures from the country’s National Energy Administration.
Having deployed more than 5.6GW of solar in October, China’s cumulative additions for the first ten months of 2022 were 58.2GW, more than was installed in the whole of 2021.
With Q4 marking the peak season for power plant deployment, industry analysts expect China’s new PV installations to exceed 80GW this year, setting a new record.
In terms of investment, from January to October solar power accounted for RMB157.4 billion (US$22.4 billion), up by 327% year-on-year.
The country’s total installed power generation capacity as of the end of October was about 2.51TW, an 8.3% increase on the same time last year.