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Compiled by: Mansi Choksi
Global PV markets revived and leading players in the industry became active in 2013. The global
solar PV market witnessed a gradual shift from European nations to evolving Asian countries such
as China, Japan and India. In 2013, China installed 12GW of PV capacity, the largest in the world.
In our opinion, the country's growing dominance is evident from the fact that the Chinese solar
market is largely incentive-driven. Furthermore, China has afrmed photovoltaics as a key industry
with a special status in the 12th Five Year Plan of the People's Republic of China, thus enforcing
banks and other nancial institutions to heavily subsidise the industry. The country plans to add
14GW of solar PV capacity by 2014, thus fortifying its position as the leading solar PV market
in the world.
Arancas Views
Solar installations in China are heavily
concentrated in western provinces:
Gansu (accounted for 24% of all
installations in 2013), Xinjiang (18%), and
Qinghai (17%). As these provinces are
believed to be sunny and void, they are
apt for solar installations.
Global Solar PV Market
China to Take Leading Position
China plans to add 14 gigawatts (GW) of solar photovoltaics (PV) capacity in
2014 and account for 29% of the global solar PV installations
Global solar PV market share forecast (in %) - 2014
Additional capacity installed (201214) in GW in China
Proposed province-wise distribution of solar PV quotas in China (2014)
Interesting facts about Chinas solar PV market
2014
100% = 46GW
2012 2013 2014E
In 2013, China installed additional 12GW of solar power (no country has added more
than 8GW of solar power in a single year). In 2014, the country aims to install additional
14GW of PV capacity.
Jiangsu Shandong Zhejiang Hebei Guangdong Qinghai
Xinjiang Inner Mongolia Henan Gansu Other Provinces
11% 10% 9% 8% 8% 5%
5% 4% 4% 4% 32%
Source: European Photovoltaic Industry Association, Statista
Top Chinese solar PV manufacturers have reportedly
reduced solar module costs by 54% since 2010
By 2017, the solar module cost is believed to further
decline to $0.36 per watt. To achieve this, Chinese
manufacturers are believed to have rened
technologies and introduced automation.
14%
24%
29%
20%
US
4%
3%
3
12
14
6%
Germany
UK
China
Japan
India
ROW
Dominates 65% of the global solar panel
manufacturing market
Exports about 90% of total production
80% of exports are to the EU
In 2013, seven of the 10 leading solar panel
manufacturers were from China, accounting
for 58% of the total market.
In 2012, China generated 21,069
megawatts of electricity from
solar PV - highest in the world,
followed by Taiwan (5,025 MW)
and the US (800 MW).