China Prepares to Conquer the High End Solar Market Using High-performance Cells
China, which is densely populated and widely known country for manufacturing low cost products is seeking to dominate the solar power market. In recently launched program, China is emphasizing on manufacturing better performing solar cells, which are used in high-tech products such as satellites. The country has planned to manufacture cost effective cells, which is expected to enhance a sector of disrupting the electricity generation worldwide.
Attempt made by China is expected to exert pressure on various international solar cell manufacturers like Sunpower, Sharp, REC Solar, and Canadian Solar which are some of the companies that compete with established Chinese leaders that include, JA Solar Holdings, Trina Solar, and LONGi Green Energy Technology. China has introduced a “Top Runner Program” in 2017, under which the National Energy Administration (NEW) of China has planned to add approximately 8 to 10 gigawatt (GW) of solar capacity to already existing capacity of 80 GW. In 2017 report of the solar industry, Stanford University stated that, “this migration can have far-reaching implications especially for the universal solar industry, mainly helping China vault into the top ranks of nations pursuing and engaging in solar R & D.”
Global solar power generation or production capacity has grown to roughly 300 GW from 1 GW in 2000. According to the data fetched by the International Renewable Energy Agency (IREA), World solar power generation capacity has increased to around 300 GW from 1 GW in 2000. The growth rate is predicted to increase two folds by 2020.
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