Proposal to quadruple capacity of solar power
Source: Bloomberg News |
July 3, 2012, Tuesday
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Print Edition
Print Edition
CHINA, the biggest supplier of solar power panels, plans to quadruple a domestic installation goal for sun-derived energy projects to 21 gigawatts by 2015 to help absorb excess supply of panels and support prices.
The target includes 1 gigawatt of solar-thermal power plants, Shi Lishan, deputy director of the National Energy Administration's renewable energy division, said yesterday. The plan will be issued "soon," he said.
China had planned 5 gigawatts of capacity in the five years through 2015 and 20 gigawatts by 2020. The government has considered an increase since last year as solar panel makers led by Suntech Power Holdings Co and Trina Solar Ltd suffer from cuts in European subsidies and a global supply glut that drove prices lower.
"With a significant tumble in photovoltaic prices, the timetable for mass use is ahead of time," said Lian Rui, a senior analyst for research company Solarbuzz. "The new target is still very conservative; we expect the installation to surpass 30 gigawatts."
The target includes 1 gigawatt of solar-thermal power plants, Shi Lishan, deputy director of the National Energy Administration's renewable energy division, said yesterday. The plan will be issued "soon," he said.
China had planned 5 gigawatts of capacity in the five years through 2015 and 20 gigawatts by 2020. The government has considered an increase since last year as solar panel makers led by Suntech Power Holdings Co and Trina Solar Ltd suffer from cuts in European subsidies and a global supply glut that drove prices lower.
"With a significant tumble in photovoltaic prices, the timetable for mass use is ahead of time," said Lian Rui, a senior analyst for research company Solarbuzz. "The new target is still very conservative; we expect the installation to surpass 30 gigawatts."
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