According to the NEA, China installed 16.46 GW of new PV capacity in August this year
This represents a decrease of 22% over the previous month’s 21 GW additions
Ember forecasts China to exit 2024 with 334 GW new solar PV deployments
The National Energy Administration (NEA) of China has released the latest official statistics for the country’s power generation capacity addition for the period between January and August 2024. For solar PV, the total capacity during the reporting period stood at 139.99 GW, taking the cumulative to 750 GW, a 48.8% increase year-over-year (YoY).
This is an increase of 26.83 GW from the 113.16 GW the country installed during 8M 2023, including 16 GW in the month of August (see China Exceeds 100 GW Annual Solar Milestone).
In the month of August 2024, its new PV additions represented 16.46 GW, representing a decrease of 22% over the 21 GW reported for July 2024 when the country achieved the 1.2 TW combined wind and solar PV capacity target, aimed for 2030 originally (see China Hits 2023 Wind & Solar PV Capacity Target 6 Years Earlier).
On the other hand, China’s wind power additions grew to a combined 470 GW, representing 19.9% YoY growth, comprising 33.61 GW installed during the initial 8 months of this year.
According to a recent Ember forecast for PV capacity additions in 2024, analysts peg the global capacity to reach 593 GW with China accounting for 56% or 334 GW (see Ember Forecasts Global Solar PV Installations For 2024 To Reach 593 GW).
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