BAKU, Azerbaijan, March 4. From 2019 through 2023, the worldwide adoption of solar PV is making a remarkable impact, slashing annual CO2 emissions by 1.1 billion tons (Gt), the International Energy Agency (IEA) said, Trend reports.
As the agency noted, that's as much as the entire annual emissions of Japan. At the same time, the most substantial drop in emissions comes from China, where the addition of solar PV capacity prevents over 600 Mt.
Meanwhile, in Australia and New Zealand, the deployment of solar PV capacity during this period manages to dodge emissions equivalent to 10 percent of the entire region's annual energy-related emissions in 2023.
In the span of just one year, from 2022 to 2023, the global additions to solar PV capacity soared by an impressive 80 percent, smashing previous records and hitting a new high of over 420 GW. The lion's share of this surge came from China, contributing to over 80 percent of the global increase in solar PV capacity. Even though the central government subsidies for utility, commercial, and industrial-scale applications were phased out, China managed to more than double its solar PV deployment. Surprisingly, the country claimed an unprecedented 62 percent share in global additions, showcasing remarkable growth despite the subsidy changes.
Within the EU, we saw a 25-percent uptick in annual solar PV additions, hitting a groundbreaking 52 GW last year. Over in the US, solar PV capacity additions spiked by a significant 50 percent compared to the previous year. This boost comes on the heels of resolving supply chain issues that had led to a dip in annual capacity additions in 2022.