China's solar power capacity surges 36.6% YoY in Jan-April 2023

22 May '23

1 min read

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Insights

In the first four months of 2023, China's solar power capacity expanded by 36.6 per cent YoY to approximately 440 million kilowatts.
Concurrently, wind power capacity grew by 12.2 per cent YoY, reaching approximately 380 million kilowatts.
Overall, China's total power generation capacity rose 9.7 per cent YoY to around 2.65 billion kilowatts.

China’s solar power capacity saw a significant growth in the first four months of 2023, according to the latest data from the National Energy Administration. As of April, the capacity stood at approximately 440 million kilowatts, marking a YoY increase of 36.6 per cent.

The country’s wind power capacity grew by 12.2 per cent year-on-year (YoY) in the first four months of 2023, reaching approximately 380 million kilowatts by the end of April.

Overall, China's installed power generation capacity, which includes both renewable and non-renewable sources, experienced a substantial uptick, rising 9.7 per cent from a year earlier to approximately 2.65 billion kilowatts, according to Chinese media reports.

During the first four months of the year, the country's major power companies invested a staggering 74.3 billion yuan (approximately $10.6 billion) in solar energy. This is a YoY increase of 156.3 per cent.

The increase is largely attributed to China's bolstered investments in renewable energy as the country moves towards its objective of green development.

China has made a commitment to reach its peak of carbon dioxide emissions by 2030. Furthermore, the country aims to achieve carbon neutrality by 2060.

Fibre2Fashion News Desk (DP)

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