Chinese PV Industry Brief: Stationary storage installations hit 21.5 GW in 2023


CNESA said in a new report that China added 21.5 GW/46.6 GWh of new energy storage installations in 2023, up 194% year on year. Most of this capacity came from lithium-ion batteries, accounting for approximately 95% of the total. Other emerging technologies included compressed air energy storage, flow redox batteries, sodium-ion batteries, and flywheel energy storage. China's cumulative energy storage capacity reached 34.5 GW/74.5 GWh by the end of 2023, and CNESA expects the nation to install more than 35 GW in 2024, with lithium-ion batteries to account for 95% of the total.

Renshine Solar has switched on a 150 MW perovskite cell production line. The China-based perovskite manufacturer aims to achieve mass-scale production of perovskite panels with a size of 1.2m*0.6m and an efficiency of 20% by mid-2024. It said it will focus on the development of gigawatt-level production lines to further expand its capacity.

Gaoce has produced its first wafers at a facility in Yibin, Sichuan province. The factory has a planned wafer-cutting capacity of 50 GW. It will be built in two phases, with the initial 25 GW phase to reach full capacity by June 2024. Gaoce has entered the wafer-cutting market with its self-developed GC-800XP Diamond Wire Crystalline Silicon Slicer, which can handle larger sizes and thinner pieces via its advanced control systems.

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Daqo New Energy said its previously announced share buyback initiative has reached a milestone of $491 million, approximately 70.1 % of the $700 million maximum it has allocated for the program.

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