The non-hydropower renewables sector in APAC is expected to grow by 10.4% annually to 3,010GW in 2032, according to research firm BMI Research’s recent study Asia Power Regional Overview: Growing Policy Momentum Boosts Solar And Wind Expansions.
The world is increasing its installed solar PV capacity as 1TW will be added annually by 2030, while the annual polysilicon and wafer production capacity will continue to rise, according to the report Powering a Green Future: A Forecast to 2030 for Solar, Wind, and Energy Storage published by Taiwanese renewables research firm InfoLink Consulting.
Solar PV additions have seen significant increase over the past few years, while it is also leading the increase in new renewable capacity worldwide this year, according to the International Energy Agency’s latest report Renewable Energy Market Update June 2023.
Announced solar PV manufacturing capacity across the globe has met the deployment levels suggested by the International Energy Agency towards 2030, but only 25% of the announced projects could be considered as committed, according to IEA's recent study.
China's PV module companies released their financial reports for 2022 and the first quarter of 2023 at the end of April, with some of the leading manufacturers posting strong performance.
Jinko Solar has posted an improved financial result for the first quarter of 2023, as its net income attributable to ordinary shareholders increased by 18.6% quarter-on-quarter.
TCL Zhonghuan has made a series of announcements recently, including investing in a 25GW N-type TOPCon project, initiating a share buyback and releasing its operating data in the first quarter of the year, which reflected its new direction in the industry and confidence in high quality development.
