China – the world’s largest solar market – added 104,9 GW of installed PV capacity in the first four months of 2025, setting a new record for the period.
The volume represents a 75% increase compared to the first four months of last year, according to data released by the NEA (China's National Energy istration). The growth was driven by strong political .
In January, the government published the “Measures for the Management of Construction and Development of Distributed Photovoltaic Power Generation” – establishing that projects connected to the grid by May 1, 2025 could maintain the benefits of the old pricing policy.
Those connected after June 1st must enter auctions with prices set by the market. The new regulations have generated a rush for connections by the deadline.
In April alone, 45,22 GW were added – a jump of 215% compared to April 2024. The number is almost equivalent to the entire installed capacity in the first quarter of last year (45,74 GW).
Among the hottest segments, commercial and industrial photovoltaic projects (C&I) led the expansion between January and April. Fearing changes in energy prices, companies took action in advance to guarantee fixed costs and greater predictability of returns, intensifying the pace of registrations and installations.
Drop in module prices
After the peak of installation, PV module prices fell across the entire production chain. According to InfoLink Consulting, modules with TOPCon technology, for example, reached a low of RMB 0,65 and 0,66/W – the equivalent of US$0,09–0,092/W).
Looking ahead, the research and consulting firm assesses that the Chinese photovoltaic sector will face some challenges between the second and third quarters of this year, such as reduced policy incentives, excess capacity, trade barriers and grid absorption restrictions.
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