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China Smashes Solar Installation Record
China set a global record by installing 93 GW of solar capacity in May, surpassing any other country's full-year total, though growth is expected to slow due to new regulatory changes.
The 93 GW in May means that the Chinese capacity additions last month were more than the solar panels installed in any other country in the world in the full year 2024, according to BloombegNEF estimates. However, solar installations are set to slow this month and in July, due to new policies in the Chinese market that would take time for supply and demand to adjust. The slowdown could further hit China’s solar panel manufacturers, which have been struggling for more than a year with overcapacity and price wars.
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