China's PV industry reports robust expansion in 2022

BEIJING -- China's photovoltaic sector posted robust growth in 2022 with the total output value of the industry exceeding 1.4 trillion yuan ($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 percent, 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 $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 percent 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.