China’s solar panel installations continued their recovery in October after falling to near a three-year low in August, reports Bloomberg. A total of 12.6 gigawatts of solar capacity was added last month, up from 9.66 gigawatts in September, according to data released by the National Energy Administration. The monthly figure also represents a drop from the 20.4 gigawatts added in the same period a year earlier.
The fourth quarter usually marks the peak construction season for the Chinese solar sector, with installations surging toward year-end. But a new market-based pricing scheme rolled out June 1 prompted developers to rush projects to completion earlier this year. This front-loaded demand led to a significant summer slump, with installations only beginning to recover in September.
Despite this volatility, the full-year outlook remains strong. BloombergNEF forecasts a 21% year-on-year increase in solar installations driven by the utility-scale sector, which is less affected by the new pricing policy.