BEIJING - The China Photovoltaic Industry Association on Thursday released this year's edition of the China PV Industry Development Roadmap.

The China PV Industry Development Roadmap (2024-2025) covers various aspects of the photovoltaic (PV) industry chain, including 76 key indicators such as polysilicon, PV cells and new energy storage, according to the association.

The roadmap summarized the industry's development situation for 2024, while also predicting development trends for the coming five years.

In 2024, newly-added solar PV installations in China surged 28.3 percent year-on-year to hit 277.57 GW -- ranking first worldwide, the roadmap revealed.

In the case of polysilicon, the country's production rose 23.6 percent year-on-year to 1.82 million tons in 2024, it said.

Driven by favorable factors such as the continued decline in PV power generation costs and growing demand in emerging markets, global installations of new PV capacity are expected to continue to rise, the roadmap predicts.

Global solar PV capacity may hit at least 5,400 GW by 2030, the roadmap said in quoting International Renewable Energy Agency (IRENA) data.