China Installed 25 GW New Solar PV Capacity In November 2024
China’s solar PV installations between January and November 2024 totaled over 206 GW, says the NEA. (Photo Credit: TaiyangNews)
The world’s largest solar PV market China completed installing 206.30 GW of new solar PV capacity in 2024 by the end of November, taking the country’s cumulative installed capacity to around 820 GW, according to the National Energy Administration (NEA).
This cumulative capacity of 820 GW represents an increase of 46.7% year-on-year (YoY). Wind power generation in the country is way lower in comparison at about 490 GW, with 19.2% YoY growth.
China’s 11M 2024 PV additions represent 42.35 GW of additional capacity since last year, thanks to the deployment of 25 GW within the month of November alone. This is the country’s highest monthly PV capacity addition this year, whereas the lowest was in March with over 9 GW installed.
Considering it installs another 20 GW and above in the last month of the year, China should settle around 230 GW of PV additions in 2024, a little above the China Photovoltaic Industry Association’s (CPIA) forecast of up to 220 GW AC capacity.
The association had earlier this year projected a slowdown in the annual installations due to grid capacity and land constraints. China exited with 216.30 GW in 2023.
However, market intelligence firms expect China to do much better than this. InfoLink Consulting projects between 240 GW and 260 GW.