China become world’s largest market solar devices

China to become world’s largest market for solar devices

9:37 AM, 17th April 2012
China to become world’s largest market for solar devices

BEIJING, CHINA: China, the world’s largest solar panel producer, is likely to become the largest market for solar devices in 2012 according to Europe. Europe the largest importer of Chinese panels sees its market for the products contract. China’s capacity to generate solar power is expected to double to about 5 gigawatts this year. China’s installed solar capacity reached 2.75 gW in 2011.

Europe accounts for more than half of China’s module market. Major solar markets including Germany, Italy, Britain and France have cut subsidies over the past year. Meanwhile, the US has imposed duties on Chinese panels, denting the competitiveness of Chinese companies. As a result of the shrinking overseas market, China is pursuing domestic demand through targeted policies.

The national feed-in tariff stands at ¥ 1 (16 US cents) per kWh this year, with several areas such as Liaoning and Shandong provinces providing higher rates. The Ministry of Finance has issued standards for subsidies for on-grid electricity from renewable sources, including solar power. Domestic PV companies are expanding into the downstream sector through cooperation with local governments.

LDK and JA Solar, leading module makers, signed agreements with the Jiuquan government in Gansu province to develop solar farms. Yingli also signed an agreement with China Power Investment to cooperate in solar project development. It has said it expects to sell 2,500 to 2,600 mW of modules in 2012, including 900 mW domestically.

© China Daily News

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