Connect with us

Hi, what are you looking for?

CleanTechnica
I just reported yesterday on a new report out by Ernst & Young showing that China is the most attractive country in the world for renewable energy investors. However, it wasn't ranked as top for solar energy investment (was tied for third with Spain behind the US and India). That may change next time around (the report is released every quarter), as China is preparing to officially up its 2015 solar capacity target from 5 GW to 10 GW!

Clean Power

China to Double Solar Power Capacity Target to 10 GW by 2015

I just reported yesterday on a new report out by Ernst & Young showing that China is the most attractive country in the world for renewable energy investors. However, it wasn’t ranked as top for solar energy investment (was tied for third with Spain behind the US and India). That may change next time around (the report is released every quarter), as China is preparing to officially up its 2015 solar capacity target from 5 GW to 10 GW!

solar panels & kids in China

I just reported yesterday on a new report out by Ernst & Young showing that China is the most attractive country in the world for renewable energy investors. However, it wasn’t ranked at the top for solar energy investment (it was tied for third with Spain and behind the #1-ranked US and #2-ranked India). That may change next time around (the report is released every quarter), as China is preparing to officially up its 2015 solar capacity target from 5 GW to 10 GW!

You may have heard rumor of this before, as it has been talked about for awhile now, but now a draft proposal has reportedly been submitted to the State Council for approval.

Drop in Cost of Solar Energy Key Factor

The projected drop in solar energy costs is a big factor making this shift more possible and an official target.

According to Channel NewsAsia: “researchers said as the cost of solar power is falling, they are optimistic that this clean energy can be used more widely to ease China’s power shortage by 2015.”

“The drop in the cost of solar energy is about 10 per cent to 20 per cent each year,” Dr. Hao Guoqiang, vice president of the Shanghai Solar Energy Energy Research Center said.

“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.”

The policy is not official yet, but is expected to be very soon now, as part of the country’s 12th 5-year plan.

China’s 2020 target may also increase from 20 GW to 50 GW according to the local media.

China Solar Energy Challenges & Needs

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

“All other markets are driven by incentive. A feed-in-tariff for China is long-awaited, though with module prices coming down so rapidly, it’s probably in [the government’s] interest to wait until these stabilise,” says Paul Combs, investor relations director at Hanwha SolarOne.

Related Stories on CleanTechnica:

  1. China Leading US in Renewable Energy Investment Attractiveness (Top 10 Lists)
  2. China Adding 500 Gigawatts of Renewable Power by 2020!
  3. Canadian Solar Headed to China to Build Two 600-MW Solar Technology Plants
  4. China to Cut Nuclear & Increase Solar Power Goals after Japan Crisis
  5. Wow, China IS Serious About Clean Energy!
  6. China Moving Forward on World’s Largest Solar Roof

Photo via International Rivers


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Cars

Korean luxury brand Genesis has revealed its first-ever production EV in China today, as part of Auto Shanghai 2021. It’s call Electrified G80, and...

Clean Power

The global LNG market is holding up for now, but Uniper's plans for a green ammonia and green hydrogen hub in Germany could shake...

Cars

The “Auto Shanghai 2021” auto show season is here from the 19th to the 28th of April, which means brands are showing off new...

Batteries

We cover every angle and every corner of the electric vehicle market. We’ve done so for years. I’ve been calling the 2020s the decade...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.