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Solar promise
China is a land of opportunity for the expanding PV industry but there has been
confusing information available on the region. Recent financial turmoil did not
avoid China’s market and a financial response package has recently been
Issue III 2009 announced. Reports from China provides region specific data as well as key
points for operating in the PV industry and general market in China.
growth rate,
hina strives to increase its solar
power installation to 1.8 GW in 2020 there will be a
and 600 GW in 2050. It is predicted that in 2050, 4.75
China’s installed power capacity deriving from percentage
renewable energies will account for 25 percent of point drop in
the country’s total power installation. Among this, China’s export
photovoltaic (PV) power installation will take up 5 growth; and for
percent of the national total. This means that in the every one
coming years the CAGR (Compound Annual percentage point
Growth Rate) of China’s solar power installation will drop in Europe’s
reach as high as over 25 percent. China is economic growth, there
expected to emerge as one of the greatest solar will be a 1.5 percentage
energy production bases in the world after 2008. point drop in the growth of
Market size is expected to reach $360m by 2010. China’s export of electronic products to
Europe, and 0.5 percentage point drop in the
In any industry these figures would be impressive. growth of China’s textile and garment export to
For the PV industry it makes China a very attractive Europe.
market for a growing industry. China’s size and
ongoing rapid growth of manufacturing capacity This means that in the long run China’s economy
makes China an ideal location for manufacturing grows in direct proportion to its investment and
raw materials, components or complete PV export. Between these two factors, export plays a
devices. China is a country going through dramatic greater role than investment in boosting the
change and the economic interaction with the rest Chinese economy. Every one percentage point
of the world is a recent phenomena. increase in China’s export growth will be translated
into a 0.815 percentage point rise in its economic
China’s export growth is closely tied with world growth; and for every one percentage point
economic growth. According to the World Bank, increase in domestic investment, there will be a
the international economy will grow by 2.7 percent 0.4994 percentage point rise in the growth of the
and 2.5 percent, respectively, in 2009 and 2010. country’s economy. These figures show clearly that
Compared with recent years, this means slower China’s economic growth exhibits capital-
economic growth, not only in China but around the expansion and export-oriented characteristics.
world. In particular, the economies of industrialised
countries like the United States will experience a Realities of expansion
slowdown with a subsequent reduction in imports. Shortages of natural resources, especially basic
Consequently, their demand for Chinese goods will industrial resources like energy and minerals, are
decrease. According to one key calculation, for the chief constraining factor for China’s economic
every one percentage point drop in America’s GDP growth and sustainable development. Beginning in
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