China Now The World’s Largest Solar PV Market

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

China is now the world’s largest solar PV market, according to the Global New Energy Development Report 2014, having now surpassed Germany to take the top spot.

The new report explores other topics as well, and provides a comprehensive overview of the global renewable energy market. It was prepared by Hanergy Holding Group and China New Energy Chamber of Commerce.

Image Credit: China Solar Cells via Wikimedia CommonsImage Credit: China Solar Cells via Wikimedia Commons

Amongst the most interesting things to note are that 38.7 GW of new solar PV capacity was installed in 2013, and that out of that total figure 12 GW was installed in China — that’s a 232% increase over the previous year in the eastern manufacturing powerhouse. Total global cumulative installed solar PV capacity now rests at 140.6 GW.

The figures match up with what has been predicted by many analysts, the industry’s slow shift from the European to the Asian market.

Renewable Energy World provides more:

The global new energy industry experienced sustained growth in 2013, as governments aligned their national energy mix to eliminate pollutants and improve the ecological environment, China New Energy Chamber of Commerce vice president Zeng Shaojun said. Chinese companies will be investing more heavily in technological advances and accelerate their pace of going global, in an effort to increase their shares in the global new energy market, Zeng added.

Since 2012, Chinese regulators have been releasing a series of policies and measures, including the State Council’s Opinions on Promoting the Healthy Development of the PV industry, significantly propelling the development of the country’s solar power market. As of the end of 2013, China’s grid-connected solar capacity reached 14.79 GW, up 340% year on year.

Over the last few years China’s PV export demand has fallen as the result of weak economic growth in the European and American markets, and also as the result of lower subsidies for exports to said markets + protectionist policies undertaken on behalf of those markets.

2013 was a bit of a turning point though, thanks to the country’s shift to emerging markets. Solar exports to Asia climbed 124% year on year in 2013 — up to $5.5 billion, thereby accounting for 44.8% of total exports. Another market that saw big growth was the African one, which saw figures surge 387% in 2013 — up to $570 million.

By comparison, European market numbers fell by 62% in 2013 to $3.72 billion.

In related news, if you want to read a funny story (that perhaps reflects rather harshly on certain segments of modern Chinese society), I recommend: Angry Chinese Customer Smashes Tesla Model S In Protest. The reasons for the destruction are a bit ridiculous (or is that sad?), and will definitely give you something to think about. 🙁

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Our Latest EVObsession Video

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
Thank you!

CleanTechnica uses affiliate links. See our policy here.

James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

James Ayre has 4830 posts and counting. See all posts by James Ayre

2 thoughts on “China Now The World’s Largest Solar PV Market

  • Germany is getting saturated and scaling back the FIT. The USA should be #1 considering we have great solar resources and relatively high electricity prices.

    • In Germany there is no longer need for FIT, but incentives should encourage self-use of solar power. That is, Germany is moving emphasis on battery systems.

Comments are closed.