Residential PV industry expected to surge in next 5 years

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April 12, 2021

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Residential PV industry expected to surge in next 5 years

Source: Xinhua | 00:00 UTC+8 April 12, 2021 |

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To reach China’s goal of carbon neutrality, the country’s residential photovoltaic industry will embrace huge growth in the next five years and beyond.

China’s residential PV systems are expected to set a new record for total installation volume this year, Wang Bohua, an official with the China Photovoltaic Industry Association, told an industry forum.

The newly added installation volume of Chinese PV systems totaled 48.2 gigawatts last year, with the volume for residential use accounting for 21 percent of the total, said Wang. “During the country’s 14th Five-Year Plan (2021-2025) period, residential PV will continue to be an important part of the PV market’s growth,” he added.

With less than 10 years remaining before China’s first goal of bringing carbon emissions to a peak before 2030, emission control efforts in the next five years have become especially crucial.

The country has also called for efforts to implement its rural vitalization strategy, which is expected to generate faster growth for the residential PV industry.

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Residential PV industry expected to surge in next 5 years

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