According to the "Global Photovoltaic Market Snapshot Report in 2023" released by the International Energy Agency (IEA),
Last year, a total of 240GW new solar photovoltaic systems were installed in the world, and the cumulative installed capacity reached 1185GW. China's new installation machine last year was 106GW, accounting for 44%of the global new capacity, and continued to dominate the new capacity and cumulative capacity. China's cumulative installed capacity reached 414.5GW. This growth continues the growth of previous years -54.9GW in 2021 and 48.2GW in 2020.
The European Union installed 38.7GW solar capacity last year, which increased from 27GW in 2021 and 20GW in 2020. Driven by Spain (8.1GW), Germany (7.5GW), Poland (4.9GW) and the Netherlands (3.9GW), the European Union became the second largest market with a cumulative capacity of 209.3GW.
The installed capacity of the United States last year was only 18.6GW, less than 27GW in 2021. The solar project waiting for the grid reaches 1TW.
India's annual installation capacity reaches 18.1GW, but its cumulative capacity is only 79.1GW, which is 84.9GW behind Japan, although Japan only increased by 6.5GW in 2022.
The report also stated that photovoltaic contributions accounted for 6.2%of the total global power demand, while the penetration rates of the European Union and China were only 8.7%and 6.5%, respectively.
