We are two weeks into the new year and China continues its march towards clean energy dominance. The Asian giant is aiming to have up to 10 gigawatts (GW) of new solar capacity this year.
According to PV Magazine, if successful, will more than double its total capacity currently at 7GW.
Meanwhile the country envisions having a total of 21GW by 2015.
Seven gigawatts is pretty impressive for solar capacity for any country, especially China, and how rapidly they have gotten there.
In 1999, China only had 16 megawatts (0.016 GW). Ten years ago in 2003 that number sat at 42MW (0.042GW), while in 2008, Chinese solar capacity grew to 140MW(0.14GW).
The recent announcement has been apart of a string of positive news within China’s solar industry. Yingli Green Energy also became the largest solar company in the world, beating out Suntech. Yingli shares have also jumped up within the past month from its month low on December 17th at $2.31/share to its most recent high of $3.05/share on January 9th. Share prices at the end of trading on January 15th were $2.90/share.
How Far Can China Continue to Move Up the Solar Ladder?
There is no doubt China continues to move its way up the renewable energy ladder in solar and wind. If China’s economy continues to rebound, furthering the need for cleaner energy, solar energy capacity targets now targeted for China, could easily be beaten.
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