China sets 10 GW installed capacity target for 2013

09. January 2013 | Markets & Trends, Global PV markets | By:  Jonathan Gifford

Reuters are reporting that China has set a goal to install 10 GW of new solar capacity in 2013. This would more than double its current cumulative capacity of 7 GW.

The Chinese flag.

Stocks of Chinese photovoltaic manufacturers have seen a boost on reports of the 10 GW 2013 target.

While Chinese photovoltaic manufacturers continue to struggle to return to profitability, in light of current oversupply in the market, its government has continue to ramp up its installed capacity targets. The latest announcement, which has come from the Chinese government website, indicates that it now aims to install 10 GW of new solar capacity this year.

In its report Reuters notes that, if achieved, 10 GW of new solar capacity in 2013 would see China well on the way to meeting its previously announced goal of 21 GW of capacity by 2015.

The international news site has also reported that solar stocks have continued to rally on the news. Already helped by news last week that Warren Buffet’s Berkshire Hathaway – through MidAmerican Holdings – will pay approximately US$2.5 billion for SunPower’s Antelope Valley Solar Projects, solar stocks have seen a welcome improvement in the New Year.

However, analysts Reuters spoke to regarding the news have been less than enthusiastic about stocks in solar photovoltaic manufacturers. "If you look at how much supply there is in the world relative to demand, even if China grows by 10 GW this year, it really is not enough to fix the problems that exist in the solar sector,” Morningstar analyst Stephen Simko told Reuters.

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