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China bumps 2015 solar target to 15GW

China bumps 2015 solar target to 15GW

China looks set to strengthen its lead on global solar growth, with a total installation target of 15GW set for the year 2015, according to a draft consultation paper released recently by Beijing’s National Energy Agency.

Republished from RenewEconomy
Deutsche Bank reports that the Draft Plan on China’s Annual New On-Grid Capacity specifies that 8GW of this total will be in the form of centralised grid-connected solar plants, while 7GW will be from distributed power plants.
China’s new and bullish solar target is higher than its 2014 target of 14GW, on which it fell short, ultimately installing an estimated 11GW for the year.Chinese_solar_roofs
According to Barron’s analyst Shuli Ren, the 2014 shortfall was mainly due to Beijing’s focus on smaller, rooftop distributed systems.
But Ren says Beijing has mostly fixed its policies now, ensuring that Chinese solar companies can be big winners in 2015, especially if oil prices are near the bottom.
Read full article on RenewEconomy