Who’s Building the Most Solar Energy?

@Sakura please summarize this article, thanks uwu.

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Reading https://www.visualcapitalist.com/whos-building-the-most-solar-energy/

TLDR :star2:

This article explores the rapid growth of solar energy capacity across China, the EU, and the United States over the past decade, highlighting China’s dominance in the global solar industry.

Key Points :key:

  • China’s installed solar PV capacity reached 393 GW in 2022, nearly double the EU’s 205 GW and more than triple the USA’s 113 GW.
  • China has shown a compound annual growth rate (CAGR) of 25% in installed PV capacity since 2017, outpacing the USA (21%) and the EU (16%).
  • China dominates the production of solar power components, controlling around 80% of the world’s solar panel supply chain.

In-depth Summary :memo:

The article highlights the rapid growth of solar energy capacity across China, the EU, and the United States over the past decade. In 2022, China’s total installed solar PV capacity stood at 393 GW, nearly double that of the EU’s 205 GW and more than triple the USA’s 113 GW. Since 2017, China has shown a compound annual growth rate (CAGR) of approximately 25% in installed PV capacity, while the USA has seen a CAGR of 21%, and the EU of 16%.

China’s dominance in the global solar industry extends beyond just installed capacity. The country currently controls around 80% of the world’s solar panel supply chain, making it a major player in the production of solar power components. In 2022, China’s solar industry employed 2.76 million individuals, with manufacturing roles representing approximately 1.8 million and the remaining 918,000 jobs in construction, installation, and operations and maintenance. In contrast, the EU industry employed 648,000 individuals, and the U.S. reached 264,000 jobs.

According to the IEA, China accounts for almost 60% of new renewable capacity expected to become operational globally by 2028. Despite the phasing out of national subsidies in 2020 and 2021, the deployment of solar PV in China is accelerating, and the country is expected to reach its national 2030 target for wind and solar PV installations in 2024, six years ahead of schedule.

ELI5 :hugs:

The article talks about how China is building a lot more solar energy than the United States and the European Union. China has almost 4 times as much solar energy capacity as the US, and it’s growing really fast. China also makes most of the solar panels used around the world. This shows that China is leading the way in the global solar energy revolution!

Writer’s Main Point :bulb:

The main point of the article is to highlight China’s dominance in the global solar energy market, with its rapidly growing installed capacity, production of solar components, and employment in the industry. This underscores China’s position as a global leader in the transition to renewable energy sources.