China hits record number of rooftop solar panels in 2021

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Updated 20 January 2022
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China hits record number of rooftop solar panels in 2021

RIYADH: China saw a record number of rooftop solar panels installed in 2021, adding 29 gigawatts to the country’s energy capacity.

This figure represents more than half of the total solar capacity of 51GW rolled out across China last year, Bloomberg reported, citing the National Energy Administration.

The majority of the capacity was installed in the final quarter of 2021 as developers hastened to meet a subsidy deadline.

The Asian country currently holds a total of 108GW of rooftop solar, which is more than anywhere else worldwide.

Despite this, the 65GW forecasted by the main industry body for the year 2021 were cut short due to the high costs and project delays which hindered larger scale installations.

Nevertheless, estimates indicate high growth rates in 2022 accumulating to over 75GW.

This record number is attributed to the government’s support for residential solar along with the development of vast clean energy hubs in the country.

As local authorities are now able to purchase in bulk in an attempt to reduce prices, installations are expected to further flourish.

In addition, the pilot program — which kicked off last year to encourage consumption — managed to draw hundreds of cities and towns.

Accordingly, program participants will be expected to install panels on 50 percent of government buildings, 40 percent of schools and hospitals,  30 percent of industrial buildings, and 20 percent of rural homes, by the end of 2023.

 


Silver crosses $77 mark while gold, platinum stretch record highs

Updated 27 December 2025
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Silver crosses $77 mark while gold, platinum stretch record highs

  • Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
  • Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years

Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation ‌as a US ‌critical mineral, and strong investment inflows.

Spot gold ‌was ⁠up ​1.2% at $4,531.41 ‌per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.

“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist ⁠at Zaner Metals.

Markets are anticipating two rate cuts in 2026, with the first likely ‌around mid-year amid speculation that US President Donald ‍Trump could name a dovish ‍Fed chair, reinforcing expectations for a more accommodative monetary stance.

The US ‍dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.

“$80 in ​silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next ⁠year,” Grant added.

Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

All precious ‌metals logged weekly gains, with platinum recording its strongest weekly rise on record.