Global solar PV capacity installations 2023

China had the greatest new solar photovoltaic capacity additions worldwide in 2023, at some 235 gigawatts. The global solar PV cumulative capacity increased massively over the past 20 years. In the year 2000, the capacity amounted to just over one gigawatt and by 2023 had surpassed 1.6 terawatts. Solar capacity is expected to continue to rise as renewables increase their role in the global energy mix. The United States increased its solar photovoltaic capacity by 33 gigawatts in 2023. 

China leads the solar race

Despite being ranked second in terms of new capacity installations, the United States added considerably less than the top-ranked nation, China. In 2023, China's solar pv cumulative capacity amounted to over 640 gigawatts. This was more than the combined cumulative capacities of the United States, Japan and India. China’s newly installed capacity has presented a growing trend in the last decade. Unsurprisingly, China is home to many of the world’s major solar PV companies, such as Jinko Solar. In 2023 the company reported an annual revenue of 16.7 billion U.S. dollars.