In the fourth of a series of commentaries, a veteran journalist with China Daily focuses on the solar power industry's development. The development of the solar photovoltaic industry over the past two decades provided China with increasing amount of clean energy and, as expected, greatly reduced its carbon emissions.
The Chinese government has formulated and implemented a series of medium and long-term development plans to support the progress of the solar PV power industry. The planning objectives are gradually changing from targets for installed capacity to the development of a clean industry.
China is now a global leader in solar PV development, accounting for more than 70 percent of the world's solar PV equipment market. China is giving incentives to encourage solar power generation. It also encourages market competition, so as to accelerate the development of relevant technologies and reduce costs.
The result of this investment is that China has a number of the world's leading PV companies as well as the successful establishment of research and development centers . Another factor that will increase the market for the solar PV power industry is China’s demand for electricity, which continues to grow rapidly.
Installed capacity of the solar PV power in China (1990–2009). To encourage the development of renewable energy such as solar PV power, China has promulgated a series of laws, regulations and financial incentive policies, and has invested significant funds in PV power generation projects.
It is expected that solar energy will become an important new energy source for renewable energy in China in the future. China has four types of renewable energies for commercial production of electricity, those include hydroelectric, wind, biomass and solar. Solar power has the greatest potential of these four sources .
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A report by the International Energy Agency, or IEA, on the future of renewable energy production has pinpointed China, and in particular its solar power capabilities, as leading the way for the world in the years to come.
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