Solarbuzzs new China Deal Tracker has found that since the introduction of a Chinese feed-in tariff, there has been a "significant" increase in photovoltaic project development activity in the country.
The research company says that there are currently 1,007 non-residential systems, which have either been installed, are under construction, or are in the development phase. Of these 1,007 projects, 707 are said to be above one MW in size.
The countrys northwest region is said to account for the lions share of the photovoltaic projects, at 66 percent. "The top five province pipelines in megawatt terms are Qinghai, Gansu, Ningxia, Inner Mongolia and Sichuan," said Solarbuzz in a statement released.
Overall, it goes on to say, non-residential photovoltaic activity is taking place in 29 of Chinas provinces.
"The fast-developing non-residential segment has created an important and growing opportunity for project developers, as well as engineering, procurement and construction (EPC) companies. Most leading project developer groups are state-owned enterprises (SOEs), with the top 10 companies accounting for 9.7 GW of the total pipeline," continued the statement.
Internal rates of return are said to be "reasonable", with installed system prices for ground-mount projects above 10 MW reportedly below CNY15 per watt (around USD$2.35).
Solarbuzz analyst Ray Lian believes that the market will exceed 1.6 GW this year. Meanwhile, the top four photovoltaic module suppliers in MW terms are said to be Suntech, Yingli, GD Solar and Shanghai Aerospace Automobile Electromechanical. The leading inverter supplier, on the other hand, is Sungrow Power Supply.