China’s solar panel installations slowed sharply in August, falling to their lowest level in nearly three years as producers turned to overseas markets amid weak domestic demand, Bloomberg reported.
According to the National Energy Administration (NEA), only 7.36 gigawatts (GW) of new solar capacity was added in August, down one-third from 11.04 GW in July and the lowest since November 2022. The decline extends a downward trend that began after installations peaked at a record 93 GW in May, when buyers rushed to complete projects ahead of policy changes.
In contrast, module exports recorded a strong rebound. Shipments rose 9.5% year-on-year to $2.4 billion in August — a 28% jump compared to July — marking the first positive annual growth since June 2023, according to Citi Research. Analysts attributed the surge to demand from Europe, Africa, and emerging markets such as the Philippines, Pakistan, and the UAE, coupled with expectations of rising module prices and concerns over a potential removal of export tax rebates by year-end.
Meanwhile, China added 4.17 GW of wind power and 7.89 GW of thermal capacity in August, NEA data showed.
