Clean Power solar energy investment china

Published on September 18th, 2012 | by Zachary Shahan

9

China to Double 2015 Solar PV Target to 40 GW

September 18th, 2012 by  

 
China has a habit of increasing its solar power targets. I think it’s done so 3 times in the past year and a half. Its initial 2015 target of about 5 GW has been quadrupled to 21 GW in that time (see the link above for more info on that). Now, Giles Parkinson and Sophie Vorrath of Renew Economy indicate that China’s doubling its solar PV target yet again:

solar energy investment china

China & Solar Panel via Shutterstock

China is about to double its targeted installation rate for solar PV for the second time in as many months, and now expects more than 40GW to be installed by 2015.

According to Deutsche Bank, this target was confirmed by a source “familiar with the matter”, and added that an officer at the National Energy Administration, who also confirmed that there will be no caps on the new added capacity, as had been speculated elsewhere.

The new forecast is in fact the fourth upgrade of the target for solar PV for China’s 12th five-year plan, the country’s official economic blueprint. Just 18 months ago, it was set at 5GW, but that is expected to be the rate of installation in calendar 2012 alone. It was doubled to 10GW, then to 20GW, and now 40GW.

The upgrade to China’s 2015 forecast means that its 2020 forecast will also have to be lifted, most likely to at least 100GW from its current level of 50GW.

That would represent a more than three-fold increase in its forecasts for 2020 made just a year ago, but it reflects the fact that the cost of solar PV continues to fall sharply, and is now a cheaper option in China than peaking power plants, and at the retail and commercial level. Chinese government officials have said that solar PV will offer cheaper wholesale prices – and energy security – than coal or gas by the end of the decade.
 


 
The higher forecast for 2015 shouldn’t come as a surprise. China’s installation rate is estimated by some to be around 7GW this year. If that rate was continued until 2015, that would mean at least 30GW by then, even without an increase.

The Deutsche Bank report, quoting the same sources, said that China will focus on large-scale on-grid solar plants, which will be mainly constructed in the Qinghai, Gansu, Xinjiang and Inner Mongolia regions. Some projects have already been canvassed that could comprise facilities of 1,000 megawatts or more.

 
 
Get CleanTechnica’s 1st (completely free) electric car report → “Electric Cars: What Early Adopters & First Followers Want.”
 
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.

 

Tags: , , , , , ,


About the Author

is tryin' to help society help itself (and other species) one letter at a time. He spends most of his time here on CleanTechnica as its director and chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of EV Obsession, Gas2, Solar Love, Planetsave, or Bikocity; or as president of Important Media. Zach is recognized globally as a solar energy, electric car, energy storage, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media: ZacharyShahan.com, .



Back to Top ↑
  • Advertisements

  • Top Posts & Pages

  • Cool Cleantech Events

    Energy Storage USA, June 15–16, San Diego, California (US)
    Only event in the United States focused exclusively on the commercialization of storage.

    American Renewable Energy Day Summit Storage USA, June 20-24, Snowmass, Colorado (US)
    The American Renewable Energy Institute (AREI) brings together thought leaders and experts to foster climate change solutions.

    InterSolar North America, July 12–14, San Francisco, California (US)
    The most-attended solar event in the US. We’ll be there– will you?

    EES North America, July 12–14, San Francisco, California (US)
    International exhibition for batteries and storage, co-located with InterSolar.

    More details are on: Cleantech Events.

  • Advertisement

  • CleanTechnica Electric Car Report

    Electric Cars Early Adopters First Followers
  • Tesla Model 3 FAQ … Answered!

    Tesla Model 3 side
  • Tesla Model 3 Review by EVANNEX

    Tesla Model 3 Review from EVANNEX
  • Tesla Model 3 Exclusive Video

    Tesla Model 3 Video
  • Tesla Model 3 Exclusive Pictures

    Tesla Model 3 Video
  • Tesla Model X Review #1 (Video)

    Tesla Model X Review from new owners Zach Shahan
  • Tesla Model X Review #2 (Pictures)

    Tesla Model X Review from Kyle Field
  • Tesla Model S Long-Term Review

    Tesla Model S Long Term Review from Kyle Field
  • Nissan LEAF Long-Term Review

    Nissan LEAF Long Term Review from Cynthia Shahan
  • Interview with Michael Liebreich

    Interview with Michael Liebreich
  • Interview with Akon (Teslas & Solar)

    Interview with Akon Tesla Model S Tesla Model X Solar Power Africa
  • Interview with Dr Nawal Al-Hosany

    Interview with Dr Nawal Al-Hosany
  • Interview with Gro Brundtland

    Gro Brundtland
  • Interview with President of Iceland

    President of Iceland Ólafur Ragnar Grímsson
  • Interview with Nick Sampson

    Faraday Future VP Nick Sampson
  • Interview with Dipal Barua

    Dipal Barua 1st ZFEP WInner
  • Interview with Jonathon Porritt

    Jonathon Porritt
  • Interview with Clint Wilder

    Interview with Clint Wilder
  • Interviews with Solar Impulse Pilots

    Bertrand Piccard Andre Borschberg
  • Check out more CleanTechnica Videos.

  • Join The Solar Revolution!

    Edison-solar-energy solar-energy-spill-nice-day
  • Cost of Solar Panels

    cost-of-solar-down
  • Search the IM Network


Shares