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China adds record 19 GW of new solar in May, up 48% YoY

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).

China adds record 19 GW of new solar in May, up 48% YoY

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.

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