China's newly installed PV capacity forecast to decline in 2025

State Grid employees check solar power panels in the Tibet autonomous region. (Photo by SONG WEIXING/FOR CHINA DAILY)

China's newly installed photovoltaic capacity is projected to reach 215-255 GW in 2025, reflecting a year-on-year decline of 8.13 percent to 22.54 percent, according to industry data.

In 2024, the country's newly installed photovoltaic capacity reached 277.57 GW, a 28.3 percent year-on-year increase from the previous year, according to the China Photovoltaic Industry Association. Based on this, the 2025 forecast indicates a year-on-year decline of 8.13 percent to 22.54 percent.

Wang Bohua, honorary chairman of the China Photovoltaic Industry Association, said factors such as the implementation of distributed photovoltaic power generation management measures and market-based pricing reforms for new energy grid connections will lead to industry caution. This uncertainty is expected to affect the 2025 installation forecast.

Globally, photovoltaic installations are expected to continue growing in 2025. In an optimistic scenario, global installations may rise by 10 percent year-on-year, driven by rapid demand growth in emerging markets like the Middle East, he said.