This year in China new photovoltaic installations will be built with a total capacity of 230 to 260 gigawattssaid Wang Bohua, chairman of the China Photovoltaic Industry Association.
This is significantly higher than last year’s record of 217 gigawatts and represents an increase over previous forecasts. In February this year, the group estimated that solar capacity in China would increase from 190 to 220 gigawatts by the end of the year.
China will set a new record for solar installations / Bloomberg
The rapid expansion of energy bases in the country’s desert areas and measures to support roof panels are helping increase the number of installations, at a rate much faster than previously thoughtWang said at the group’s annual conference in Yibin.
Network construction has also acceleratedenabling solar power to be transmitted to demand centers further afield, he said.
Problems for panel manufacturers
Excess production capacity and price wars are killing companies producing equipment crucial to the global energy transformation. And continued strong demand for panels in the world’s largest market is a rare bright spot for solar producers this year.
Overcapacity has pushed prices to record lows, causing billions of dollars in losses and forcing some smaller producers out of business. The production value of solar industry producers fell by 45%. in the first nine months of the yearor 570 billion yuan ($78 billion), Wang said.
Exporters also suffered because the value of foreign sales decreased by 35%. in the first 10 months of the year up to USD 28 billion.
