Solar Power in China – 10,000 MW by 2015

Posted on June 14, 2011 by


A recent KPMG report stated China as the second most attractive country in the world for renewable energy investors. For solar energy investments, it was tied for third with Spain and behind US -ranked US, rank 1 and India, rank 2. Given that China is preparing to officially up its 2015 solar capacity target from 5 GW to 10 GW, China will go up in the ranking.

The drop in the costs is a significant factor that is making the ambitious increase in targets more possible. Dr. Hao Guoqiang, vice president of the Shanghai Solar Energy Energy Research Center said “The drop in the cost of solar energy is about 10 per cent to 20 per cent each year. This is to say in 2015 the cost of supplying solar electricity is basically about the same as our electricity fees right now. That will be an era whereby solar energy is used on a large scale.”

This target is not yet official, but is expected to be soon now, as part of the China’s 12th 5-year plan. In the same tone, China’s 2020 target may increase from 20 GW to 50 GW, reports the local media.

Wang Sicheng, a senior solar energy researcher at China’s National Development and Reform Commission, the policy maker, says “There are still big barriers. There is no standardised feed-in tariff and grid connection is a big problem without a standard policy,”

All other leading markets are currently driven by incentive.The Chinese government will like to wait till the prices drop and stabilize before announcing a feed-in-tariff regime.

Read more about RE investments in China at “China – Clean energy spending overtakes the US” and “China – Renewables and Coal Power – Impact on Carbon Emissions

 

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Posted in: Renewable Energy