Installed PV capacity in China to top 100 GW in 2018 - Solarbuzz
Sep 1, 2014 - China’s cumulative installed solar capacity is expected to exceed 100 GW in 2018 and account for more than 20% of the world’s total, NPD Solarbuzz said on Friday.
According to a quarterly report by the market analyst, the Japan and the US will be the only two in the list of countries with installed photovoltaic (PV) capacity of between 50 GW and 100 GW. "This level of downstream consolidation indicates that the majority of solar PV demand is still being driven by only a handful of markets," the market research company says.
Meanwhile, NPD Solarbuzz forecasts that five countries will have installed PV capacity in the 10 GW-50 GW range, followed by at least nine countries whose cumulative installed solar PV capacity will be over 5 GW each. In additions, at least 29 countries will each have over 1 GW by 2018, while more than 150 will be in the sub-1 GW category then.
The market analyst noted that solar power can be made more competitive as compared to conventional electricity and other renewable energy sources only through cost reductions.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.