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According to GlobalData, a UK-based research consultancy, by 2025, the cumulative installed volume of global solar PV will increase from 271.
4GW in 2016 to 756.
1GW, with a compound annual growth rate (CAGR) of 13.
1%.
GlobalDatazuixin reports that China's CAGR reached 50.
1% between 2006 and 2015, and the growth rate may decline after that, but it will still maintain high growth
in the next decade.
In 2025, China's global PV installed capacity will reach 31.
3%
China's PV installed capacity ranks first in the world, accounting for 19.
7% of the world's cumulative PV installed capacity in 2015 and will occupy 31.
3%
of the global market share by 2025.
PV capacity is expected to grow from 60.
5GW in 2016 to 236.
7GW in 2025, with a CAGR of 18.
5%.
China's central government stimulates the domestic PV market
The Chinese government is committed to meeting sustainable energy growth demand
by vigorously developing solar photovoltaics.
The government plans a number of initiatives to promote the rapid development of
the domestic photovoltaic market.
For example, China implements feed-in FiT schemes for utility-scale projects and provides subsidies
for rooftop PV projects.
The National Energy Administration has been promoting the development of
off-grid solar installations.
In addition to environmental concerns driving the rise in solar PV, the industry is capital-intensive
.
Favorable policies and fiscal incentives will play an important role
in driving its growth.
According to GlobalData, a UK-based research consultancy, by 2025, the cumulative installed volume of global solar PV will increase from 271.
4GW in 2016 to 756.
1GW, with a compound annual growth rate (CAGR) of 13.
1%.
GlobalDatazuixin reports that China's CAGR reached 50.
1% between 2006 and 2015, and the growth rate may decline after that, but it will still maintain high growth
in the next decade.
In 2025, China's global PV installed capacity will reach 31.
3%
3%
China's PV installed capacity ranks first in the world, accounting for 19.
7% of the world's cumulative PV installed capacity in 2015 and will occupy 31.
3%
of the global market share by 2025.
PV capacity is expected to grow from 60.
5GW in 2016 to 236.
7GW in 2025, with a CAGR of 18.
5%.
China's central government stimulates the domestic PV market
China's central government stimulates the domestic PV marketThe Chinese government is committed to meeting sustainable energy growth demand
by vigorously developing solar photovoltaics.
The government plans a number of initiatives to promote the rapid development of
the domestic photovoltaic market.
For example, China implements feed-in FiT schemes for utility-scale projects and provides subsidies
for rooftop PV projects.
The National Energy Administration has been promoting the development of
off-grid solar installations.
In addition to environmental concerns driving the rise in solar PV, the industry is capital-intensive
.
Favorable policies and fiscal incentives will play an important role
in driving its growth.
