China’s solar demand is expected to rise dramatically, helping absorb excess global production while boosting the solar industry. CEOs from two major solar panel manufacturers, Suntech and Trina, both predict that China will double its installations of solar panels compared with 2011. Previously, China’s share of world solar installations has remained relatively low despite its high manufacturing capacity. The projections outlined in this article suggests that China is now focused more on developing its domestic solar panel market, as a strategy to meet its renewable energy targets, rather than exporting solar panels. Renewable energy currently accounts for less than 1% of total energy supply, so there is much room for growth. The article cites several reasons for growth of solar demand in China (including government support and subsidies, falling price of solar technology, etc) as well as challenges for the industry.
Saturday, January 28, 2012
Solar Panel Boom in China
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