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The Solar Photovoltaic Market in China is growing at a fast pace which has made it the global leader in the manufacturing of solar cells and modules. This has been primarily driven by government policies and subsidies. A strong need to meet the ever increasing energy demand drives the solar PV market. The low cost of labour in China has made it lucrative for firms to venture into the sector. High demand from the export market for solar cells and modules also provides a boost to the market.
The report begins with an introduction to the renewable energy market in China with emphasis on its renewable energy capacity targets and the contribution of solar PV. It further delves into an overview of the photovoltaic technology, its major components and its various types. The market overview section gives an insight into the capacity and production levels of solar cells and modules with its production and value chain.
An analysis of drivers and challenges explains the factors leading to the growth of the market and include economic growth and demand for energy, geographical advantages and vast solar resources, huge export market, solar subsidies, strong investment potential and low carbon footprint. The key challenges identified are shortage of silicon supply and recycling limitations, high costs of electricity generation and technological issues.
The various initiatives take by the Chinese Government have been highlighted and include renewable energy law, feed-in-tariff, MOHURD subsidy (Solar Roofs program), the Golden Sun program, government support policies and rural electrification programme. Key trends in the market have also been analyzed which includes adaptation of new thin film technologies, new applications of solar PV technology and international participation.
The competition section provides an overview of the competitive landscape in this industry and includes a detailed profile of the major players in the market along with a snapshot of their business. Key developments in this sector have also been highlighted.