Latest news with #CPIA
Yahoo
27-02-2025
- Business
- Yahoo
China's solar expansion to slow down after 2024 peak, agency says
China's expansion of solar energy systems is set to slow down for the first time in six years, the China Photovoltaic Industry Association (CPIA) said at a conference on Thursday. The CPIA said it expects an increase of between 215 gigawatts and 255 gigawatts in output this year. Last year, China installed 277.57 gigawatts of new solar cell capacity, surpassing the record set in 2023 of 216.3 gigawatts. China is the world leader in solar expansion, far exceeding countries like Germany, which added around 16 gigawatts to its capacity in 2024, according to its main infrastructure authority, the Federal Network Agency. However, the Chinese solar industry suffered setbacks last year, with oversupply causing manufacturers to incur losses, while countries such as the United States imposed high tariffs on cheap solar cells to protect their domestic companies. Experts attribute the slowdown in part to a new price model, which is causing uncertainty among manufacturers and investors. From June 1, market forces are to determine the prices producers receive for their electricity from renewable energies. The association expects an increase in new installations again from 2026.
Yahoo
27-02-2025
- Business
- Yahoo
China Solar Lobby Sees Fewer Installations After Record Year
(Bloomberg) -- China's solar industry expects installations to drop in 2025 after an unprecedented surge in additions last year left power grids racing to keep up. The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC's Congestion Pricing Pulls In $48.6 Million in First Month New York's Congestion Pricing Plan Faces Another Legal Showdown NYC to Shut Migrant Center in Former Hotel as Crisis Eases The China Photovoltaic Industry Association expects 215 to 255 gigawatts of additions in 2025, Chairman Wang Bohua said at the group's annual conference in Beijing on Thursday. The world's second-largest economy added 277 gigawatts of solar last year, shattering the previous year's record of 217 gigawatts. The surge came amid a tough year for the industry in China, where a supply glut has caused huge losses for leading manufacturers. The influx of panels that only generate when the sun is shining has put pressure on grids to increase investments in power lines, energy storage and digital tools to help make sure the power is used. The government also announced new power market rules that go into effect June 1, which will create a new challenge for wind and solar by leaving market forces to determine the rates generators are paid for power. A rush of solar installations is expected in the second quarter this year, as developers seek to take advantage of the older price policy before the new market-based scheme takes is implemented, S&P Global solar analyst Hu Dan said Wednesday. The CPIA's Bohua said the new rules, as well as stricter policies and connection issues for distributed solar generation from rooftops, have left the industry in 'wait-and-see mood, thereby increasing the uncertainty around expected installations in 2025.' On the Wire China's growth target is usually the single most important indicator of how macro policy will be set in the year ahead. At the 2025 National People's Congress, the inflation objective will be just as telling, according to Bloomberg Economics. China is extracting lithium as a byproduct of producing alumina, highlighting the country's push to maximize domestic supplies of the battery material. China's plunging coal price is closing the window for imports. Mining shares dropped after Citigroup downgraded their ratings to reflect slower demand and lower prices. This Week's Diary (All times Beijing unless noted.) Thursday, Feb. 27: China solar association's annual meeting in Beijing, day 2 U.N.'s climate change panel meets in Hangzhou, day 4 CSIA's weekly solar wafer price assessment EARNINGS: HKEX Friday, Feb. 28: U.N.'s climate change panel meets in Hangzhou, day 5 China's weekly iron ore port stockpiles Shanghai exchange weekly commodities inventory, ~15:30 EARNINGS: Xinyi Solar Saturday, March 1 China's official PMIs for February, 09:30 (Updates with comments from the CPIA's chairman in sixth paragraph) Trump's SALT Tax Promise Hinges on an Obscure Loophole Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Walmart Wants to Be Something for Everyone in a Divided America China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction Meet Seven of America's Top Personal Finance Influencers ©2025 Bloomberg L.P.
