The extraordinary expansion of China’s solar manufacturing capacity
Insights — November 2022
Driven by China, from 2025, the world will have the capacity to manufacture 2022’s entire solar electricity generation capacity
BNEF forecasts China’s solar module manufacturing capacity will double to c.1000GW by 2025 (from just over 500GW today with 80GW under construction and another 240GW in announced commitments) which is an acceleration of the longer-term trend (10-year CAGR of 25%pa has accelerated to nearly 30%pa over the last three years).
To put this in perspective, the world has just hit 1000GW of installed solar generation capacity (which generates c.3% of global electricity). From 2025, the world will have the potential to manufacture (and install) 2022’s entire solar capacity (which was installed over several decades) in only one year.