Solar power installations hit new highs

Despite challenges in photovoltaic industry, demand remains strong

China is on track to set a new record for solar power installations in 2024, driven by falling production costs and increased global interest in renewable energy, said industry experts and company executives.

With the world's largest, most complete new-energy industry chain, China is expected to install 230 to 260 gigawatts of solar capacity this year, topping the record of 217 GW set last year, according to the China Photovoltaic Industry Association.

This is mainly driven by lower module prices, a robust rooftop PV market and the commissioning of the country's energy megabases, which aim to develop large-scale wind and solar installations mainly in desert areas, it said.