China's Solar Surge: Large-Scale Growth Outpaces Rooftops

Feb 29, 2024 02:27 PM ET
  • China's solar shift: President Xi Jinping's focus on large-scale projects in inland deserts drives record-breaking installations, with falling module prices fueling growth.

China installed more utility-scale solar projects than rooftop installations in 2023, with 120 gigawatts added compared to 96.3 gigawatts. This shift was driven by President Xi Jinping's focus on building large-scale renewable facilities in inland deserts, where land is more readily available for development.

Despite rooftop installations being a major driver of China's solar growth in recent years, the country's push for large-scale solar projects in inland areas led to a record-breaking 216 gigawatts of solar installations in 2023. Falling module prices also contributed to this surge, with new utility-scale capacity more than tripling as developers rushed to meet Xi's clean energy expansion plan. The China Photovoltaic Industry Association expects the country to install up to 220 gigawatts of solar capacity in 2024.

Why did China prioritize utility-scale solar projects over rooftop installations in 2023?

  • President Xi Jinping's focus on building large-scale renewable facilities in inland deserts, where land is more readily available for development, drove the prioritization of utility-scale solar projects over rooftop installations in 2023.
  • Falling module prices also contributed to the surge in utility-scale solar projects, with new capacity more than tripling as developers rushed to meet Xi's clean energy expansion plan.
  • Despite rooftop installations being a major driver of China's solar growth in recent years, the country's push for large-scale solar projects in inland areas led to a record-breaking 216 gigawatts of solar installations in 2023.
  • The China Photovoltaic Industry Association expects the country to install up to 220 gigawatts of solar capacity in 2024, indicating a continued focus on utility-scale projects to meet renewable energy targets.
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Source:
bloomberg.com

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