China Achieves New Solar Record
(MENAFN) China achieved a new milestone in monthly solar power capacity installations in May, according to official statistics.
The National Energy Administration announced on Monday that China installed 93 gigawatts of solar panels during the month—exceeding the total installed by any other nation throughout all of 2024 so far, as reported by a news agency.
This figure is over four times the capacity added in the same period last year and surpasses the previous monthly record of 71 gigawatts set in December.
This sharp increase is driven by developers hastening to finalize projects before upcoming regulatory adjustments, which are expected to substantially lower renewable energy prices.
The record-breaking installations in May followed a strong performance in April, resulting in a total of 198 gigawatts of solar capacity added in the first five months of the year—an average exceeding 1 gigawatt per day.
While China usually experiences a surge in solar panel installations in December, this year developers accelerated their efforts earlier in anticipation of policy changes.
A regulation implemented on May 1 introduced more stringent requirements for connecting rooftop solar systems to the grid, and a subsequent policy starting June 1 eliminated pricing safeguards that had guaranteed profits for solar ventures.
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