Solar sees brighter full-year prospects

China's photovoltaic industry may see robust growth in installed capacity this year with new installations ranging between 190 and 220 gigawatts, driven by the increasing electrification of energy use and the shift toward low-carbon power consumption, said the China Photovoltaic Industry Association.

Wang Bohua, honorary chairman of the CPIA, said: "In recent years, total electricity consumption in China has steadily risen, propelled by industries such as new energy vehicles, big data centers and 5G base stations. Last year, electricity accounted for 28.1 percent of China's energy consumption. The level may rise to around 35 percent by 2030. Concurrently, the share of green electricity continues to rise, with new energy expected to become the primary source of power generation by 2060."

Wang added: "Recent government initiatives have also relaxed restrictions on grid integration of power generated from new energy sources from 95 percent to 90 percent, potentially unlocking significant installation capacity. The second and third phases of large-scale PV projects in desert regions, including the Gobi Desert in Northwest China, have set clear targets, and are poised for substantial progress by 2024, further driving PV installation growth. Moreover, rapid advancements in grid construction have been evident, with investments in grid projects reaching 170.3 billion yuan ($23.6 billion) from January to May, marking a 21.6 percent year-on-year increase, significantly outpacing the growth rate of power generation projects at 6.5 percent."