Solar surging 58% in 2023, 413 GW of installations expected globally

Global solar power generation is expected to grow significantly by 58% in 2023, reaching 413 GW, which is the highest value in history. This growth trend is mainly due to the historically low price of solar modules, which has greatly reduced the installation cost of solar energy, thus driving the global solar industry's installation volume to a record high in 2023.

In China, as of the end of March, the country's cumulative installed power generation capacity was approximately 2.62 billion kilowatts, a year-on-year increase of 9.1%. Among them, the installed capacity of wind power is approximately 380 million kilowatts, a year-on-year increase of 11.7%; the installed capacity of solar power generation is approximately 430 million kilowatts, a year-on-year increase of 33.7%. This data shows that China is also actively promoting the development of solar power generation.

In addition, the new clean energy economy led by solar photovoltaics and electric vehicles has shown bright prospects since 2020. Driven by carbon emission reduction, economic benefits and safety factors, clean energy investment has increased by 40%, and the manufacturing capacity of key components of clean energy is also rapidly expanding.

In general, with the advancement of technology and reduction of costs, solar power generation will be more and more widely used around the world, which is of great significance in promoting the transformation of the global energy structure and achieving the goal of carbon neutrality.

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