China is being encouraged by three industry groups to double the nation’s solar-power goal for 2020 to fill a gap forecast to emerge because nuclear and hydropower are due to fall short of targets.
The world’s biggest solar market needs 200 gigawatts of such capacity by then, according to a document seen by Bloomberg.
China Photovoltaic Industry Association, Chinese Renewable Energy Industries Association and China Renewable Energy Society, which act as conduits between the government and industry, jointly wrote the document and advised the energy authority in the State Council.
The advice, if accepted, would boost solar installations sixfold, spurring demand for manufacturers including Trina Solar Ltd. and Yingli Green Energy Holding Co. China had about 33 gigawatts of solar power at the end of 2014.
More than 60% of the world’s solar panels are produced in China, making the currency devaluation a potentially attractive boon for many markets globally.
It is forecast that India could reach 75 gigawatts of solar power by 2022
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