China's installed solar power capacity up 42.9% YoY in 2023

Overall, the country’s installed power generation capacity reached about 2.74 billion kW, rising 11.5 per cent compared to the previous year.

Investment in renewable energy has surged as China continues its pursuit of green development. Major power companies in the country have invested 161.2 billion yuan (around $22.39 billion) in solar power during the period, a sharp increase of 108.7 per cent on-year.

China’s power generation in July climbed 3.6 per cent YoY, widening by 0.8 percentage points compared to June. The daily average power generation reached 27.3 billion kilowatt-hours (kWh), according to the National Bureau of Statistics (NBS).

Growth was observed in thermal, nuclear, wind, and solar power outputs, rising by 7.2 per cent, 2.9 per cent, 25 per cent, and 6.4 per cent, respectively.

Despite the overall growth, hydropower output fell 17.5 per cent from a year earlier, although the decline narrowed by 16.4 percentage points compared to June.

The seven-month data underlines China's continued focus on expanding clean energy, even as the total power output expanded 3.8 per cent YoY to 5.01 trillion kWh. The growth in renewable energy infrastructure reflects the country’s commitment to a sustainable future.

ALCHEMPro News Desk (NB)