China Expects Solar Power Capacity to Hit Record Growth in 2023

China is expected to add 95 to 120 gigawatts (GW) of solar power in 2023, representing an increase by as much as 30%, according to the solar industry group on Thursday. This would be the biggest annual capacity added.

China, the world’s largest manufacturer of solar products and solar power generators, brought 87.41 GW of solar power into operation in 2022, bringing the total installed capacity to 392.61 GW.

Wang Bohua, honorary chairman of the China Photovoltaic Industry Association (CPIA), said that the development of China’s solar power stations faced many issues despite a slight decrease in investment costs.

The capacity of solar power in China rapidly grew, but Chinese exporters of solar products faced more trade disputes and tougher competition offshore, like in the European Union, India, and the U.S.

According to CPIA data, China exported 36.3 GW of solar wafers in 2022, up 61% year on year, and 23.8 GW of solar cells, up 131% year on year. However, exports of solar modules rose at a slower rate of 56% last year as additional module plants were constructed abroad and growing tension with the U.S. that banned  imports of solar products from China.