China set to quadruple solar installations

China is set to quadruple its domestic installations goal for solar power, according to reports. One of the biggest suppliers of solar panels in the world, the country aims to […]

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By Priyanka Shrestha

China is set to quadruple its domestic installations goal for solar power, according to reports.

One of the biggest suppliers of solar panels in the world, the country aims to increase its target to 21GW by 2015 to support prices and help with demand. The target also includes 1 GW of solar-thermal power plants.

The news comes as recent cuts in EU subsidies and global price reduction for solar power has had a major impact on companies.

Lian Rui, a Senior Analyst for research company Solarbuzz said: “With a significant tumble in photovoltaic prices, the timetable for mass use is ahead of time… The new target is still very conservative; we expect the installation to surpass 30GW.”

China had initially planned for a 5GW capacity by 2015 and 20GW by 2020.