- Solar energy is the freely available, renewable source of energy. It is the energy generated from solar radiations harnessed by modern technologies
- Some of the most popular technologies are Photovoltaics, Concentrating Solar Power Passive Solar Heating and Daylighting. In Photovoltaics systems, solar panels are used to impart solar power and further converting it into direct current electricity
- Solar energy is the present and future towards a cleaner mode of generating electricity.
|Base Year||2018||Researched through internet|
Other Key Market Trends
- China was not always secure in the energy sector. In 2003 and 2004, China experienced shortage of energy disturbing it’s industrial output. In 2005, China was the world’s largest and second largest producer of coal and electricity respectively. China was also a major exporter of coal and importer of oil.
- The transportation of coal from coal reserves in northern China to coal consumption areas in coastal China, led to increase in costs of coal.
- Till 2005, the major sources of energy in China, were coal, oil, gas; and among renewable sources were hydro-electric power and biomass. The usage of other renewable sources such as wind and solar were relatively insignificant.
- In 2005, China’s Renewable Energy Law became functional and provided the necessary support with national funds, discounted lending and tax preferences for renewable energy projects. This has promoted the development of wind and solar power in China.
- In 2011, China showed a 400% increase than 2010, generating 2.5GW via Photovoltaics. China was the 3rd PV market in the world.
- China was its best in 2013, stated as the world's biggest market for solar power. Photovoltaic generating capacity being 232% on-year to 12 gigawatts (GW).
- China revised its installation numbers and showed a drop reaching 10,6 GW in 2014.
- According to reports, China now aims to reach 35 GW by 2015 and is hoping to target 100 GW by 2020.
Market Size and Forecast
In 2014, China made a substantial move by installing huge number of photovoltaics, which amounted to more than the whole of Europe. According to a report by IHS, the largest markets will be China, Japan and the United States, while the largest contributors in terms of total growth will be China, the U.S. and India. China presents opportunities to install vast volumes of solar
The largest Concentrated Photovoltaic installations in 2015 are estimated to be approximately 80 to 90 MW in China and Southeast Asia. China’s position as the largest PV market in the world will continue from 2015 to 2017. The government stated the 13th Five-Year Plan (2016-2020) for solar development, which targets 100 GW of accumulative installations by 2020.
The following reasons are notable for the improving scope of Distributed Photovoltaics (DPV) in China from 2015:
- Electricity price of DPV continues to fall incomparison to commercial and industrial electricity prices. Businesses are hence finding generating their own electricity from solar financially reasonable.
- Local governments in China have issued supportive policies in favour of greener electricity consumption and reduction of carbon emissions.
- Business models are being developed and enhanced, to incorporate new varities of solar systems that would be feasible to the end users and meet quality expectations.
Key Market Players
Top Companies in China
Suntech is one of the world’s largest silicon solar panel producer. It is also one of China’s first solar companies. Suntech has reached a 25 million mark in number of solar modules shipped worldwide, a sum of more than 8 GW
China Sunergy (CSUN) is a leading manufacturer of solar cells and modules, and has extensive experience in the photovoltaic industry. CSUN has added a solar module production capacity of 1.2 GW and has sold over 1.4 GW of modules. Yingli Green Energy is among the top solar energy companies.
With its massive solar panel manufacturing rate, it has caused the prices of the solar panels to drop worldwide. Trina Solar is a leader in photovoltaic modules and system integration, with 11GW shipped globally since 2007