HSBC issued a bullish report on China’s solar industry this morning, saying that Beijing is now dead serious about controlling pollution. The bank upgraded its China solar demand outlook from 12GW to 15GW for 2015, and from 14GW to 16GW for 2016.
China is already the world’s largest market for solar. Beijing has set an ambitious goal 100GW of installed solar copacities by 2020.
China’s need to diversify away from its dependence on coal, which still makes up around two-thirds of of the energy mix, is well understood. We are all choking in foul air here! Sitting in Hong Kong, this blogger now has a lingering allergy-induced cough.
The more important question is implementation. Last year, Beijing insisted that the industry switch from the giant desert solar farms, or the utility scale generations, to smaller seaboard rooftops, or distributed systems. But the industry was not ready. As a result, in 2014, China likely have installed only 10.5GW solar systems, smaller than 2013′s 12GW.
Click here to read the rest of China Solar: Get Ready For A Hot 2015, HSBC Ups Outlook by Shuli Ren