China’s solar sector is accelerating an already world-beating pace of installations as costs tumble and demand keeps rising, putting it on track to rush past last year’s record. The country installed almost three times the volume of solar capacity between January and the end of April than in the same period in 2022, and is on track to add more panels this year than the entire total in the US. China could install 154 gigawatts of solar capacity this year … raising its China forecast from a previous total of 129 gigawatts. The US had a cumulative total of 144 gigawatts installed at the start of 2022, according to BNEF data. Installations in China could surge to 200 to 300 gigawatts next year … The rise in China’s deployments means the world is on track to have a total of 5,300 gigawatts of capacity by 2030 — about the volume of solar that is required in scenarios under which global net zero targets are met. Other key sectors, including transportation and wind power remain behind track.
Source: Bloomberg