China's photovoltaic industry absolutely ranks first in the globe in terms of not only market size, technology level, production and manufacturing, but also completeness of the industrial chain.
China added almost twice as much utility-scale solar and wind power capacity in 2023 than in any other year. By the first quarter of 2024, China's total utility-scale solar and wind capacity reached 758 GW, though data from China Electricity Council put the total capacity, including distributed solar, at 1,120 GW.
Wind and solar now account for 37% of the total power capacity in the country, an 8% increase from 2022, and widely expected to surpass coal capacity, which is 39% of the total right now, in 2024. Cumulative annual utility-scale solar & wind power capacity in China, in gigawatts (GW)
Technicians check solar panels in Zhoushan, Zhejiang province. [Photo by YAO FENG/FOR CHINA DAILY] A report by the International Energy Agency, or IEA, on the future of renewable energy production has pinpointed China, and in particular its solar power capabilities, as leading the way for the world in the years to come.
How did China's solar & wind industry perform in 2024?
China saw monumental solar and wind growth in 2024, according to data released today by its National Energy Administration (NEA). China's installed capacity shot up by 14.6% last year, now surpassing 3,348 gigawatts (GW). Solar saw the biggest leap, with a record-breaking 45.2% increase (+277 GW), achieving 887 GW overall.
Capacity under construction for China and Europe updated in June 2024, while other regions accurate to December 2023. What happened in the past year? China added almost twice as much utility-scale solar and wind power capacity in 2023 than in any other year.
Which country has the most solar panels in the world?
Unsurprisingly, China still ranks first with a huge advantage, while the United States ranks second, with newly installed capacity reaching 33GW throughout the year. Regarding the US market, Chinese PV companies, especially module manufacturers that have suffered setbacks in Europe last year, are showing an increasingly positive attitude.