INDUSTRY BRIEF: New China wind, solar power installations plunge in June
China’s new installations of wind and solar power plunged in June, following a surge the previous month as green energy power developers rushed to finish new projects before the expiry of several government incentive programs.
The country added 14 GW of new solar power capacity last month, plunging from 93 GW of new capacity added in May, according to Bloomberg, citing data published by the National Energy Administration on Wednesday. New wind power installations also tumbled to 5 GW in June from 26 GW a month earlier.
China’s new solar capacity added in May was higher than total new solar installations for any other country in the world for all of last year. Despite the big jump in new installations, solar panel producers are unlikely to benefit from the new business due to recent price wars that have left many producing at or below costs.
By Doug Young
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