The growth of China's PV industry is expected to accelerate in the coming years, partly because of the country's new aim to become climate neutral by 2060. This was one of the conclusions that emerged from the recent Jintan Photovoltaic New Energy Development Summit.
Zhou Dadi, the deputy president of the China Energy Research Society, said that renewable energy sources such as solar PV and wind power will become bigger elements of the overall Chinese primary energy mix.
Liu Yiyang, the deputy general secretary of the China Photovoltaic Industry Association, said that from 2021 to 2025, solar will grow in China by more than 65 GW per year. According to Shi Jingli of the China Renewable Energy Center, photovoltaics will reach grid parity in the country during this period.
Shanghai Securities News has reported that China's non-fossil energy industry will experience explosive growth throughout the 2021-25 period. Around 15.3% of Chinese energy consumption came from renewable sources in 2019, but this could exceed 18% in the 2021-25 period. The potential for more electricity generation from hydropower, nuclear power and biomass is relatively limited, but the potential for solar PV and wind power is enormous.
The Chinese Global Energy Interconnection Development and Cooperation Organization (GEIDCO) expects the country's planned installed wind power capacity to be 540 GW by 2025, with 560 GW of solar.
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