China's PV industry reports robust expansion in 2022

China's photovoltaic (PV) sector posted robust growth in 2022 with the total output value of the industry exceeding 1.4 trillion yuan (US$203.9 billion), official data showed.

The output of the major

links of the industrial chain, including polysilicon, wafers, cells and modules, all registered year-on-year growth of over 55%, according to the Ministry of Industry and Information Technology.

Last year, the country saw a steady expansion of the construction of large-scale PV bases and the application of distributed photovoltaics, with the country's newly-added installed PV capacity reaching 87 gigawatts.

Strong overseas market demands for new energy drove up the export of China's PV products. The country's PV exports totaled US$51.2 billion last year, the data revealed.

The country's renewable energy industry continued to lead globally, with China-made PV modules, wind turbines, gear boxes and other key components accounting for 70% of the global market share last year, according to the National Energy Administration.

In 2022, China's renewable energy generation was equivalent to a reduction of 2.26 billion tonnes in domestic carbon dioxide emissions, the administration said.