After installing solar capacity greater than 5.6GW in the month of October, China’s cumulative additions for the first 10 months of 2022 totaled 58.2GW, which was more than what was built throughout the year of 2021.
Industry analysts anticipate that China’s new PV installations would approach 80GW this year, which would establish a new record. The fourth quarter is often the peak season for the deployment of power plants.
In terms of investment, solar power accounted for RMB157.4 billion (US$22.4 billion) from January through October, representing a year-on-year increase of 327%.
As of the end of October, the country’s total installed power generation capacity was around 2.51TW, representing an increase of 8.3% compared to the same time of the previous year.
