Nation's PV growth, exports chase demand

China's new photovoltaic installations grew 98.7 percent year-on-year to 58.24 gigawatts during the first 10 months this year as the country has actively promoted solar power development in recent years.

Exports also hit a record high amid surging demand overseas, hitting $44.03 billion, up 90.3 percent year-on-year, contributing to the global low-carbon energy transition and energy security, according to figures released by the China Photovoltaic Industry Association.

The share of modules exported to European markets now accounts for more than half of the total as demand for PV products in Europe climbs. Demand from Spain, Germany and Poland is growing significantly, according to Wang Bohua, chairman of the association.