National Energy Administration: From January to October, the installed capacity of photovoltaic power generation increased by 43.8% year-on-year, continuing the warming trend

On November 24th, the latest data released by the National Energy Administration showed that as of the end of October, the cumulative installed power generation capacity nationwide reached 3.75 billion kilowatts, a year-on-year increase of 17.3%. Among them, the installed capacity of solar power generation was 1.14 billion kilowatts, a year-on-year increase of 43.8%; the installed capacity of wind power was 590 million kilowatts, a year-on-year increase of 21.4%.

The data also showed that in October, the newly added photovoltaic installed capacity was 12.6 GW, a month-on-month increase of 30.4% compared to September's 9.66 GW. This growth marks a continuation of the recovery trend in photovoltaic installations since September, as the industry is recovering from the nearly three-year low reached in August this year.

The fourth quarter is usually the peak construction season for China's photovoltaic industry, with installed capacity often concentrated at the end of the year. However, this seasonal pattern was disrupted by policy adjustments this year, leading to a drop in installations in August to a nearly three-year low. The consecutive growth in September and October indicates that the industry is gradually returning to a normal pace.

Data from the National Energy Administration also showed that in October, the newly added wind power installed capacity was 8.9 GW, and the newly added thermal power installed capacity was 8.4 GW. The simultaneous advancement of photovoltaic, wind power, and thermal power installations reflects that China is promoting the construction of the power system through multiple pathways to meet the growing electricity demand and optimize the energy structure