Financial reports from PV manufacturers and shipment numbers from the first half indicate high market demand.
Solar projects generated about 51,800 GWh of electricity throughout China in the first half of 2017, up 75% year on year, according to preliminary statistics from the National Energy Administration (NEA).
The 7.21 GW of fresh capacity that was completed in the January-March period marks an increase of just 70 MW from the first three months of 2016, according to the National Energy Administration (NEA).
The estimated 34 GW is far more than analysts had predicted, and nearly doubled the nation’s installed solar capacity.
Country’s National Energy Administration confirms in blueprint document plans to spend 2.5 trillion yuan on developing its solar, wind, hydro and nuclear power sectors, Reuters reports.
Declining construction costs for solar plants have prompted the government to lower the amount of money it pays to newly completed PV farms.
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