China installed 19 GW of new solar PV capacity in May 2024, marking a 48% increase compared to the same month last year, according to the National Energy Administration (NEA).
The latest figures show that as of the end of May, China’s total installed power generation capacity reached approximately 3,040 GW, a 14.1% year-on-year increase.
Solar power contributed significantly, with an installed capacity of around 690 GW, up 52.2% from the previous year. Wind power also grew, reaching about 460 GW, a 20.5% year-on-year increase.
Investment in the power sector remains robust. Major power generation companies invested 257.8 billion yuan (~35.47 billion USD) in power projects during the first five months of 2024, a 6.5% increase from last year. Investments in power grid projects rose by 21.6%, totaling 170.3 billion yuan (~23.42 billion USD).
The significant increase in solar PV installations underscores China’s ongoing efforts to expand its renewable energy capacity and reduce its carbon footprint.
