by Giles Parkinson.
China’s National Energy Administration (NEA) has reportedly increased the 2014 target for new solar PV capacity installations to 14GW – up from its previous target of 12GW.
The increase was noted by Deutsche Bank analysts, who said the target represents a near 50 per cent increase on the actual capacity installation of 9.5GW of solar PV in 2013.
Chinese officials had previously said that two thirds (8GW) of the 2014 target would come from distributed solar PV (on rooftops or in smaller arrays close to consumption), but it is not clear what the percentage is in the new target.
Earlier this month, Deutsche Bank said surging demand in China, Japan and the US would underpin a “second solar gold rush”. It tipped global installations to rise to 46GW in 2014 (based on the previous 12GW target for China), and to 56GW in 2015.
China is expected to be by far the largest installer of solar PV, followed by Japan, US and Europe, each with around 8GW.
About the Author
Giles Parkinson is the founding editor of RenewEconomy.com.au, an Australian-based website that provides news and analysis on cleantech, carbon, and climate issues. Giles is based in Sydney and is watching the (slow, but quickening) transformation of Australia’s energy grid with great interest.