Annual list: Top 5 countries with the fastest new photovoltaic growth in 2023!

With 2023 just over and 2024 quietly upon us, it can be seen as an interesting exercise to look back at the countries that have shone brightly in the field of new solar capacity over the past year and lead us into the future.

No. 5, India

Rooftop solar is becoming more and more affordable, and people are willing to accept rooftop solar. Therefore, it is not surprising that India is one of the global leaders in solar energy. India’s newly installed photovoltaic capacity in 2023 will be approximately 10GW, bringing India’s total installed capacity to 72GW.

India is expected to make greater progress in 2024, with large-scale projects that have received financial support about to start. By 2024, any capacity below 15GW will be a huge disappointment, especially in the residential and industrial and commercial sectors.

Capacity building in these areas has previously been driven by large power projects, but now needs to be stepped up.

No. 4, Germany

As a country with a growth rate of electric vehicles of 14.39%, Germany seems to have realized that its dependence on electricity will double. In 2023, Germany’s solar power generation capacity will increase by 10.78% (14GW), and the annual growth rate is expected to reach 12.80% in the next five years.

The German government has also passed laws to encourage the use of renewable energy, which is expected to significantly accelerate the application of solar energy. It is expected that by 2028, Germany’s solar market size will reach 137.88GW.

Germany’s goal is for renewable energy to account for 30% of final consumption by 2030. In addition to Germany, the EU also added nearly 56GW of installed capacity in 2023 and may maintain this pace in the future.

No. 3, Japan

As a candidate for this list, Japan’s ranking has been slowly rising. It is expected that by the end of 2023, Japan’s cumulative installed solar capacity will reach approximately 90GW.

Japan hopes that by 2050, solar power capacity will reach 370GW and carbon emissions will be reduced to zero. Japan is no stranger to alternative energy, as it is a country that uses the kinetic energy generated by walking at stations to generate electricity.

In addition, a Japanese regulation passed in December 2022 stipulates that after April 2025, all new homes built by large household builders in Tokyo must install solar modules. Japan also plans to conduct power transmission tests from space to the ground before fiscal 2025, while installing flexible solar cells.

No. 2, The United States

Just like in previous years, 2023 saw huge progress in solar energy in the United States.

The Biden administration’s goal is to achieve a 100% clean grid by 2035. 2023 also sees innovations ranging from lightweight solar cells to cheaper, more efficient batteries that can connect to the Internet of Things

Tesla’s Solar Roof makes solar cool and gives it a stylish feel. The government has committed an additional $147 million to increase domestic solar manufacturing and recycling. Inflation reduction bills also provide incentives for continued growth in solar power generation through 2030 and beyond.

No. 1, China

There is no doubt that the first one on the list is China. China also ranks first in terms of installed photovoltaic capacity. China’s 560GW of installed capacity dwarfs all other countries on the list.

The newly installed capacity in the first 11 months of 2023 was 163.88GW, and the newly installed photovoltaic capacity in November reached 21.32GW, which is higher than the cumulative installed capacity of some countries.

In addition, China continues to innovate in the solar field and has made small improvements to the manufacturing process of solar modules, further reducing costs.

China will remain the dominant market for the solar industry for the foreseeable future, thanks to its vast manufacturing base and integrated supply chain that powers the global solar industry.