China outshines Germany to become global solar leaders

By Editor

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China has emerged as the world’s biggest market surpassing Germany for solar power in 2013, Hanergy and China New Energy Chamber of Commerce (CNECC) states in their Global Renewable Energy Report 2014.

China has achieved this with the newly installed PV generating capacity attaining 12 GW with a rise of 232 percent in a year, whereas Germany’s newly installed capacity has fell 56.5 percent to 3.3GW.

China has accounted for major proportion of global solar industry with a financing of $23.56bn, corresponding to the total amount spent in Europe.

Hanergy Holding Group Ltd 2014 Report

Italy’s solar market dropped 55 percent reaching 1.6GW, in a year.

In 2013, the newly installed solar capacity reached 38.7GW, achieving a total installed capacity of 140.6GW, compared to 101.9GW gained in 2012.

Total global power generation raised 4.3percent from 2013, to 22513.8TWh, while renewable energy power generation grew at 13 percent annually making for 5.2percent of the world’s total output.

Global production of thin-film solar cell was 4GW in 2013, showing a 20 percent increase from 2012.

Through global mergers and acquisitions and upgrading production technology, many thin-film solar companies expanded capacity in 2013 achieving economic efficiency investing in markets.

The values published in report indicate that global solar market is shifting from Europe to Asia, reflecting the financing activity. The growth of the solar industry continues to accelerate along with the shift from fossil fuel to renewable energy.

China, the world’s biggest solar market is moving towards a greener and sustainable model of development which will drive future global growth in renewable energy, Li Hejun, chairman and CEO, Hanergy, president, China New Energy Chamber of Commerce.

“Governments are turning to greater use of renewable energy to tackle pollution and deliver energy security, underpinning growth momentum in the global renewable energy industry,” he added.

editor@greentechlead.com

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