China Photovoltaic Industry Association: Newly-added capacity is expected to bring totally global photovoltaic capacity to 305-350GW

At the seminar on the development review of the photovoltaic industry in the first half of 2023 and the outlook for the second half of the year, Wang Bohua, honorary chairman of the China Photovoltaic Industry Association, said that , with start-up of new capacity, global photovoltaic capacity hiked from 280-330GW to 305-350GW. The main recipe for the increase was booming demand in the Chinese market. According to the data released at the meeting, in the first half of the year, the newly-added photovoltaic capacity in China was 78.42GW, a year-on-year increase of 154%. Wang Bohua also pointed out that factors, such as power grid consumption, shortage of installation labor, electricity prices and policies, added uncertainties to the industry.