China increases 2014 solar panel installation target to 14GW

China’s transformation for a mere manufacturer of solar panel to the biggest consumer is accelerating with news that the country has upped its target for 2014 by another 15 per cent.

The National Energy Administration has announced that China will look to install 14 gigawatts (GW) of solar photovoltaics (PV) in 2014 – up from its previous target of 12GW, and nearly double estimates from earlier this year.

Most of the new installations will come on household and commercial rooftops, along with smaller utility-scale plants that are located close to the point of consumption.

China, which became the world’s largest manufacturer of solar panels, is now also easily the largest market for the product. It installed 9.5GW of solar PV in 2013, and its 2014 target will far outstrip the estimated installation rates in the other market markets – Japan, the US and Europe.

Meanwhile, India is also rapidly increasing its solar installations, doubling its capacity to more than 2GW in 2013. It aims to have 20GW of solar installed by 2022 and is currently going through a new auction that has attracted bids from First Solar and Goldman Sachs’ company Renew.

© 2014 Solar Choice Pty Ltd

Giles Parkinson