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Great Development of Photovoltaic Industry in China

Great Development of Photovoltaic Industry in China

In 2017, China added 53.06GW of new power capacity, hitting a historic peak. The global installed capacity will maintain the sustained and stable growth as the connection to grid at an equal price will be achieved sooner. It is estimated that the amount of global new photovoltaic installed capacity will reach 163GW in 2025 with a bright industry future. In addition, favourable and sustainable industry supporting policies released by governments worldwide will become the strong support of global photovoltaic market with increasing demand.

The excellent development situation of photovoltaic industry benefited from the following conditions! 

The price of industrial chain declines continuously because of the technological impetus
Due to the falling price of industrial chain, system cost and cost per kilowatt hour of the electricity generated also decrease. Photovoltaic power generation depended on scale effects before 2012, while technologies after 2012. Therefore, the prices of photovoltaic module and  inverter dropped above 53% and 67% separately from 2012 to 2017. Furthermore, the price of photovoltaic module was below 3 RMB/W at the end of 2017. It is estimated that photovoltaic industry will enter the age of cheaper price with 2 RMB/W before 2020. 

Household PV market breaks out completely

China household photovoltaic market had taken off in 2017. There were more than 500,000 household installations with an increase of 250% in 2017. As the domestic accumulated installed capacity will amount to 6-8 GW in 2018, it’s expected that the market scale will be able to exceed 10GW.