Tuesday, March 12, 2013

China To Become The World Biggest Solar Market in 2013

In 2013, China is aiming to become the biggest solar producer and buyer. Over the past decade, China has come to dominate the solar manufacturing industry thanks to huge capital investments. Even with many solar companies have gone out of business, the overall effect has been good thanks to lower costs and more total capacity. Cost has gone down 20% just last year and total production capacity is forecast to be 34.1 GW in 2013, an increase of 14% over 2012.

Bloomberg writes:
China, the biggest emitter of carbon dioxide, is forecast to unseat Germany as the largest solar market in 2013, according to analysts at BNEF. Projects have multiplied as the nation provides financial support to its solar companies in a bid to diversify the coal-dependent energy industry... The Chinese government expects 10 gigawatts of new solar projects in 2013, more than double its previous target and three times last year’s expansion. The country plans to install 35 gigawatts by 2015, compared with a previous goal of 21 gigawatts, government adviser Shi Dinghuan said Jan. 30.
With the increase of production and demand, we foresee that the cost of solar installation will continue to drop and soon could reach grid parity. By then the world could be less dependent on coal, and stop building new plants and close old ones.

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