Published Date : Oct 15, 2015
The solar market in China is booming. Backed by favorable regulations and massive investment by large companies, the solar energy sector in China is growing by leaps and bounds. Earlier, in China, it was perceived that investing in solar energy would cost them. However, this perception has now changed and the ministers in the nation think that not investing in the solar power sector would have cost them even more in the long run.
China has set up massive solar power plants in order to boost its production of solar energy such as the Gobi desert project. In addition to this, China is further adding to its capacities. China is considered as the biggest polluter in the world in terms of greenhouse gas emissions. However, with the rising investment in the China solar power sector, this scenario is expected to undergo a dynamic shift.
China as part of its 13th five year plan on energy will now aim to boost its installed solar capacity to 150 GW by end of 2020. This is more than 50% of its initial goal. This shows how high the growth graph of solar energy in this nation is.
This revised target was announced during the event held in Beijing called Photovoltaic Conference and Exhibition of China. The global leader in solar energy had previously only 35.8 GW of such plants till end of the June month this year.
This new energy program will focus on developing large scale solar energy plants in the western region of the nation and simultaneously accelerate the distributed generation market in the eastern and central parts of China. This project has aims to start new solar poverty projects and the PV application demonstration bases are some of the ways to spur the development of the solar sector further in the nation.