China’s PV capacity hits 364.4 GW



China‘s cumulative installed PV capacity hit 364.44 GW at the end of October, according to a new update by the National Energy Administration (NEA).

In a recent report on PV in China, IEA-PVPS said that the country had a total installed capacity of 305.99 GW at the end of 2021. That means that China deployed around 58 GW of PV in the first 10 months of 2022. The NEA estimates that the country invested CNY 157.4 billion ($21.98 billion) in solar projects between January and October, up 326.7% year on year.

China could install between 80 GW to 100 GW of solar by the end of the year, according to the IEA-PVPS. Given that China added 5.6 GW of solar between September and October, according to NEA data, the country will have to ramp up installations until the end of the year to hit that level, however.

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Last year, the distributed generation segment accounted for 53.4% of total new installed capacity, surpassing the 50% milestone for the first time, according to the IEA-PVPS. It expects this trend to continue into 2022.

The IEA-PVPS predicts China will add 80 GW to 100 GW of new solar capacity every year until 2025, according to its 2021-25 five-year plan. It says that China will add between 450 GW and 550 GW of new solar capacity from 2026 to 2030, and between 4,000 GW and 6,000 GW from 2030 to 2060.

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