On January 16th, 2017 China’s National Energy Administration (NEA) officially released its solar photovoltaic (PV) installation figures for the entire year 2016, Asia Europe Clean Energy (Solar) Advisory Co. Ltd. (AECEA) reports.
Accordingly, by the end of 2016 the total grid-connected solar PV installations reached 77.42 GW – up 34.24 GW YoY. By the end of 2015 China was home to 43.18 GW. In 2015 the annually installed PV capacity amounted to 15.13 GW – i.e. in 2016 the market grew by approx. 126% YoY, AECEA notes.
However, according to the National Energy Administration’s announcement, the market grew by just 81.6% YoY, and NEA provided no further explanation. Strictly speaking a 77.42 GW installed capacity means less than 30 GW are necessary, in order to meet China’s 105 GW solar PV target by 2020.
According to AECEA’s monthly demand analysis, November and, December 2016 and the first two weeks of January 2017 witnessed increasing project developments. In light of these developments it appears that approx. 20 GW of additionally installed PV capacity are feasible in the first half of 2017, AECEA notes.