China Solar Power Growth

Shanghai april 27 reuters demand for new solar capacity is expected to slow this year from the record growth achieved in 2017.

China solar power growth.

According to data released by the china renewable energy engineering institute as of the end of 2018 overall installed power capacity in china stood at 1 900 gw an increase of 119 860 mw or 6 7 per cent compared with that in 2017. The silicon subcommittee of the china nonferrous metals industry association calculates that china s production capacity of polycrystalline silicon a raw material for the solar industry will reach 433 000 tonnes a year in 2018 growth of 57 year on year. Qilai shen for bloomberg green the solar supply chain is punishingly cheap and longi dominates it like no one else. China s huge and rapidly developing population makes it the biggest energy growth market globally although it is likely to be overtaken by india in the not too distant future.

The primary drivers of the market include the rising demand for renewable energy and electricity reducing ghg emissions and the declining cost of solar pv systems. China is the largest market for solar pv in the world with a cumulative installed capacity that amounted to 35 4 of the global market in 2018. China already has more solar capacity than any other country in the world and is home to several massive solar farms including the world s largest in the tengger. China s installed power generation capacity is expected to reach about 2 billion kw by the end of 2019.

One of the key reasons behind china s growth in the solar energy segment is distributed solar pv installations. A solar power plant nestled in the mountains near xi an china. Solar power generatio in china industry outlook 2020 2025 poll average industry growth 2020 2025. Solar pv capacity in the country increased significantly from 864 mw in 2010 to 174 8 gw in 2018 at a compound annual growth rate of 94 2.

China solar photovoltaic pv market is expected to grow at a cagr of more than 19 5 during the forecast period. An increase in government policies providing financial incentives and subsidies are the major factors driving the demand for the solar energy market. In china these days solar power is cheaper than grid electricity in cities all over the country which may boost demand in the long run.