DUBLIN, IRELAND: Research and Markets has announced the addition of Frost & Sullivan's new report "Chinese Photovoltaic Market" to its offering.
Strong government support ensures fast-track growth for Chinese PV market
The Chinese photovoltaic market is expected to continue to witness steady growth from 2011 to 2017. The development of the Chinese solar power market is heavily dependent on demand from the international market. Nearly 90 percent of photovoltaic products made in China are consumed by the international market, represented by Germany, Spain, and other European countries. To reduce dependency on the international market, the Chinese Government is taking positive action to encourage the growth of the domestic market.
In addition to the allowances and subsidies, the government is trying to formulate more perfect feed-in-tariff policies and speed up grid construction to provide photovoltaic projects with grid connection convenience. The installed capacity is estimated to grow at a CAGR of 60.9 percent from 2010 to 2017. This high growth rate is largely due to strong governmental policies to strongly encourage the use of solar power.
The growth rate for total revenue and installed capacity for Chinese photovoltaic market is mainly decided by the three different sub-segmented markets: crystalline silicon market, thin-film market, and concentrator silicon market, notes the analyst of his research service. Total revenue and installed capacity is projected to be steeply increasing but with gradually shrinking growth rate; the market share is estimated to be gradually taken by thin-film and concentrator silicon technologies from traditional crystalline silicon technology.
Fossil fuel reserves are depleting rapidly and rising awareness levels among the public is driving the gravitation toward renewable energy. Multiple environmental problems such as greenhouse gas emissions have resulted as a fallout of industrial development. Solar energy can be an unlimited resource and China has it in abundance, especially in the southwest area. This, hence, is the major focus of the Chinese solar power market.