Chinese PV Industry Brief: China’s solar capacity rises to 1.11 TW by July

China’s installed power capacity hit 3.67 TW by July, with solar at 1.11 TW, wind at 570 GW, and renewables providing nearly one-quarter of generation.

The National Energy Administration (NEA) said China’s installed power generation capacity reached 3.67 TW by the end of July, up 18.2% year on year. Solar capacity stood at 1.11 TW, a 50.8% increase, while wind reached 570 GW, up 22.1%. New solar installations for January-July totaled 223.25 GW, including 11.04 GW in July, down 48% from a year earlier. China’s power consumption surged in July to 1,020 TWh, the first month to cross the trillion-kilowatt-hour mark, up 8.6% year on year and double the level of a decade ago. Extreme heat drove residential consumption to 203.9 TWh, up 18%, with Henan, Shaanxi, and Shandong rising more than 30%. Manufacturing demand increased 4.7% to 593.6 TWh, while services and other tertiary industries grew 10.7% to 208.1 TWh. Renewables accounted for nearly a quarter of July generation, underscoring momentum in China’s energy transition.

Sungrow said it would issue overseas-listed foreign shares (H-shares) and seek a listing on the Hong Kong Stock Exchange’s main board. The company said it would determine timing based on shareholder approval, capital market conditions, and suitable issuance windows within 24 months of its general meeting resolution. Sungrow also reported interim results for 2025, with revenue up 40.3% to CNY 43.53 bn ($5.99 bn) and net profit attributable to shareholders rising 56% to CNY 7.74. billion ($1.06 billion).

China Huaneng Group said it had met its “14th Five-Year Plan” target of 80 GW in new renewable capacity four months ahead of schedule, following commissioning of a 547 MW project in northwest China. Huaneng’s renewable fleet now exceeds 112 GW, accounting for 54% of its total installed capacity, up 18 percentage points since the end of 2020.

Daqo New Energy reported unaudited results for the second quarter of 2025. The company had a net loss of $76.5 mn, compared with $119.8 mn in the second quarter of 2024. Revenue fell to $75.2 mn from $219.9 mn. Polysilicon production was 26,012 metric tons (MT), up from 24,810 MT in the first quarter of 2025. The company said it operated at about 34% of nameplate capacity and expects full-year 2025 production to range from 110,000 MT to 130,000 MT. Daqo also announced a $100 million share repurchase program, effective until Dece. 31, 2026.

Irico Group New Energy Co. Ltd. reported interim results for the first half of 2025. Operating revenue was CNY 1.52 billion, down from CNY 2.04 billion in the first half of 2024. Its loss was CNY 295.69 million for the first six months.

The Jiangsu Development and Reform Commission has introduced its first electricity pricing rules to support large-scale vehicle-to-grid (V2G) integration. Pilot public and residential V2G facilities will be permitted to discharge back to the grid, with peak-time tariffs reaching CNY 1.2245/kWh. Based on time-of-use spreads, electric vehicle users could earn about CNY 0.85/kWh from discharging.

The China Nonferrous Metals Industry Association (CNMIA) said polysilicon prices were mixed in the week to August 27. N-type reprocessed feedstock averaged CNY 47,900 per ton, unchanged from the previous week, while N-type granular silicon rose 2.2% to CNY 47,000 per ton.