BEIJING: Wang Bohua, Honorary Chairman of the China Photovoltaic Industry Association (CPIA), highlighted significant growth in various production sectors and PV capacity installation, with exports also showing positive trends, reported China Economic Net.
In his keynote speech at the Photovoltaic Industry 2023 Development Retrospect and 2024 Situation Prospect Seminar, he discussed the opportunities and challenges facing China’s photovoltaic industry in 2023.
Wang emphasised that in 2023, China’s photovoltaic industry saw significant growth in production and newly installed PV capacity, with exports also increasing. Despite positive trends, there was a cautionary note regarding a slowdown in growth rates compared to the previous year. He emphasised the need for industry players to adapt to changing dynamics and capitalize on emerging trends for continued success.
He stated that the PV industry is poised for continued rapid growth, with expectations of global renewable energy capacity tripling by 2030. Pro
jections suggest that global new PV installations in 2024 could reach around 390-430GW. In China, a forecast of 190-220GW new PV capacity in 2024 reflects steady solar demand and ongoing technological advancements. The aim is for renewable energy to dominate power generation by 2030, with significant projects already underway to support this transition.
Wang Jixue, Deputy Chief Engineer of China Electric Power Planning and Engineering Institute (EPPEI), said that the prospects for domestic utility-scale renewable development look promising, with expectations of renewable energy surpassing 50% of installed capacity by 2040 and generation exceeding 50% by 2060. PV generation efficiency is rapidly improving, with module efficiency increasing by nearly 60% in a decade.
Globally, there is a push for significant growth in renewable energy capacity, with projections indicating a tripling of installed capacity by 2030. By 2027, the cumulative installed capacity of PV is expected to surpass coal globally.
The cumul
ative household PV capacity in China reached 118 million kilowatts last year, indicating significant potential for distributed PV in rural areas. Developing both centralized and distributed systems is seen as crucial for achieving carbon peak and neutrality targets, as highlighted by Li Qionghui from the State Grid Energy Research Institute.
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