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China, Optimistic Forecasts of Record Growth in PV

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The Chinese industry is reporting upbeat forecasts of record growth in PV capacity this year. In 2022, the country’s PV product exports surged 80.3% year-on-year to hit $51.25 billion. The export volume was about 153.6 GW last year, with half being aimed at the EU. While the volume increased 56%, FOB China prices increased 72%. The local industry is aware that the rest of the world couldn´t help but notice. Now, they are wary of overseas trade barriers, and other nations’ support for the development of local PV enterprises.

China is expected to add 95 to 120 gigawatts (GW) of solar power in 2023

This is as much as 30%, a solar manufacturing association said. In what would be a record annual rise in capacity. The world’s biggest solar products maker and solar power generator brought 87.41 GW of new solar power into operation in 2022, official data showed, driving the total installed capacity to 392.61 GW. Said Reuters.

The obstacles include a mandatory requirement from some local governments to install energy storage alongside solar farms. Also restrictions on land and water usage amid Beijing’s growing effort to protect farmland.

China exported about 36.3 GW of solar wafers. This are 23.8 GW of solar cells in 2022. Total up 61% and 131% year-on-year, respectively, CPIA data showed.

However, exports of solar modules last year grew at a slower pace of 56% as more module plants have been built overseas.

“Chinese solar firms should pay greater attention to the competition, as the U.S., EU and other countries are putting in place policies and making actual moves to support their local industry,” said Wang Bohua, honorary chairman of the China Photovoltaic Industry Association (CPIA) at a conference.