China’s newly built solar power capacity surged 137% on year in first half, set to hit new record in 2022
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China’s newly built solar power capacity surged 137% on year in first half, set to hit new record in 2022
STOCKS

China’s newly built solar power capacity surged 137% on year in first half, set to hit new record in 2022

 

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China built nearly 31 gigawatts (GW) of new solar power capacity in the first half of the year, surging 137% from a year earlier, with full-year installations on course to hit a new record high, said Wang Bohua, the honorary chairman of the China Photovoltaic Industry Association, said on Thursday.

Total solar power capacity now stands at 340 GW, up 25.8% compared to last year, he said. Total installations over the year are expected to stand at between 75 GW and 90 GW over 2022, Wang said, breaking last year’s record of 54.9 GW.

China’s solar power equipment exports also surged in the six months, with the total value more than doubling to 25.9 billion yuan ($3.83 billion), despite tariffs and trade sanctions from the US, India and Europe.

He warned that new restrictions on land use could pose a threat to future capacity growth, with China currently drawing up new rules to restrict the ability of solar developers to build on arable land or on coastlines and riverbanks.