China is expected to break its own record for solar power installations in 2023, with estimates suggesting the addition of 230 to 260 gigawatts of solar capacity. This surpasses the previous record of 217 gigawatts set last year and represents a significant increase from earlier forecasts of 190 to 220 gigawatts made in February.
The chairman of the China Photovoltaic Industry Association, Wang Bohua, confirmed these ambitious targets, emphasizing China's ongoing commitment to expanding its renewable energy infrastructure. Despite the strong growth in installations, the solar equipment manufacturing sector is facing challenges such as declining prices and shrinking profit margins.