According to China Photovoltaic Industry Association (CPIA), the country is likely to bounce back and add 40 GW of new solar PV in 2020, despite being unable to surpass the 30 GW mark this year, as pv magazine reported.
CPIA secretary-general: the slump in the Chinese PV market will be over soon.
China’s PV market is sluggish with mere 11.4 GW of new solar in 2019H1
The PV market in China has been unsettlingly quiet since the changes in the national energy policy have taken place in 2018.
China’s newly installed PV capacity has reached 11.4 GW in the first half of 2019, which is still the highest in the world, as EnergyTrend’s Global Market Demand Report has reported.
However, compared with its track record from previous years, 11.4 GW is incredibly underwhelming: in 2018, China installed 44.1 GW of new PV capacity; in 2017, 52.83 GW (the highest record to date), according to China’s National Energy Administration (NEA).
New PV installation in China over the years:
2017, 52.83 GW
2018, 44.1 GW
2019H1, 11.4 GW
Wang Bohua, the secretary-general of CPIA, has explained that there are several factors contributing to the apparent downturn of the PV market in China:
During the event on December 5, Wang described the slump of the market as temporary, which would not occur in 2020. He also stressed that the NEA was merely adjusting its policy for solar energy. The final result shall be announced soon.
However, he did not manage to dispel the pessimistic sentiment that the Chinese market has been unable to shake off.
His prediction of 40 GW of newly installed PV capacity for 2020 is not impressive for the biggest PV market in the world.
On the other hand, his prediction is already a lot more optimistic than that of GCL System, which was 20-25 GW.
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