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About Commodity Insights
08 Feb 2024 | 17:00 UTC
China added a record 301 GW of renewable power generation capacity including solar, wind and hydro in 2023, accounting for around 59% of the world’s total renewable capacity additions last year. It added 216 GW of solar PV capacity alone in 2023 that was equal to 14% of the world’s total installed solar PV capacity, more than what many countries have ever installed in total. However, teething troubles mean that power grids are still struggling to absorb the huge capacity expansions and it will be a while before the new plants meet viable levels of actual power generation.