Date: 24/07/2012

China's new solar PV target boosts solar market

IMS Research says due to China’s regulatory and planning body, NDRC, has lifted Solar PV installation target from 15 GW to 21 GW by 2015 to further stimulate the rapid growth of China’s PV market from 2012 to 2015.

According to IMS Research’s new report, China’s c-Si PV module capacity reached 32.6 GW in Q1’12, while full year global installations are forecast to reach just 30.6 GW.

“A more diverse range of system types will emerge in 2012, largely driven by China approving 1.7GW of projects under the Golden Sun Scheme,” commented Frank Xie, senior PV market analyst and report author. “IMS Research predicts that 1 GW of Golden Sun projects will be completed by year end, and that medium and large commercial rooftop installations will reach 850 MW in 2012.”

“Although the Chinese government has implemented tighter project approval regulations in 2012, system integrators have submitted a huge amount of applications. With the prospect for 5 to 7 GW of PV installations in 2012, PV module shipments to installations in China in 2012 are predicted to be more than double that of 2011,” continued Xie. “Inverter companies will have similar opportunities, and the base of domestic suppliers has grown rapidly in recent years with China now home to over 200 inverter suppliers.”