Residential PV industry expected to surge in next 5 years
Print Edition
To reach China鈥檚 goal of carbon neutrality, the country鈥檚 residential photovoltaic industry will embrace huge growth in the next five years and beyond.
China鈥檚 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. 鈥淒uring the country鈥檚 14th Five-Year Plan (2021-2025) period, residential PV will continue to be an important part of the PV market鈥檚 growth,鈥 he added.
With less than 10 years remaining before China鈥檚 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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