The global PV market is set to increase its installed capacity from around 225 GW in 2015 to 294.69 GW in 2016, and will see China remain the world’s largest market for annual PV installations, according to British research and consulting firm Globaldata. The company’s latest report »Solar Power Market Update« states that China installed 15.13 GW of new installed PV capacity in 2015, with cumulative capacity reaching 43.48 GW by the end of 2015. The country’s PV installed capacity has increased around 13-fold since 2011.
»In the first quarter of 2016, China added a total of 7.14 GW of PV capacity, of which 6.17 GW accounted for solar PV power plants, and 970 MW for distributed PV,« said Ankit Mathur, Globaldata’s Practice Head covering power. »In the first half of 2016, a rush of solar PV installations was witnessed, as PV power projects which were connected to the electricity grid prior to June 30, 2016 will be entitled to reap benefits from higher 2015 solar feed-in tariffs.«
China’s 13th Five Year Plan sets the 2020 solar PV target at 150 to 200 GW. The country intends to attain a non-fossil fuel renewable energy consumption of around 15 percent by 2020 and 20 percent by 2030.
© PHOTON - http://www.photon.info/en/news/global-pv-market-set-increase-its-installed-capacity-294-gw-2016-globaldata
Renewable Energy Insurance Broker will attend on Sower Power International (SPI) trade show 2016 in Las Vegas 12-15 September. SPI is North America's premier business-to-business event for more than 15,000 professionals in solar energy. That's the place for unique networking opportunities to expand our business in USA. So if you are planning to visit the event feel free to contact us and arrange a meeting to discuss our special solar insurance package.