China Set To Become World’s Largest Solar Market This Year

by Mandy Adwell on 03/14/2013

in Business,Technology

Solar panels - China

It’s probably not surprising to many, but China is set to become the biggest solar market in the world this year, building 3 times more solar capacity than in 2012.

Capital investments have helped China reach a combination of lower costs (a 20% reduction from 2012) and more total capacity (a 14% anticipated increase). In terms of clean energy development, that’s a decent win for the whole planet.

On top of becoming the biggest solar market, China is also expected to become the world’s biggest buyer, which is a pretty significant title for the largest emitter of carbon dioxide in the world. Projects have continued to grow as more and more financial support is given to solar companies, all in the hope of reducing the amount of coal used in the energy industry. Hopefully they will be able to turn off coal-fired plants as new forms of energy come into play.

China’s government anticipates a growth of 10 gigawatts of new solar projects throughout 2013, three times the amount from last year. So far, the goal is to reach 35 gigawatts by 2015, although China keeps raising its target significantly. No matter where you live, those numbers are excellent news. The more solar the better, right? Keep it coming.

Image CC licensed by Matthijs Koster



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