Will make China the world’s largest solar energy producer.
China should Germany this year to become the world's top country in new solar power generating capacity. Its newly installed solar power generating capacity is expected to surpass 10 GW this year, which will exceed that of Germany, claims Zhang Xiaoqiang, vice chairman of China’s National Development and Reform Commission.
China is currently expanding its domestic market to cope with the overcapacity problem in its solar panel industry. Its solar power sector has developed rapidly in the past decade, and still has growth potential in the future, Zhang said.
Electricity generated by renewable energy accounted for 20% of China’s total power output in 2012. Renewable energy has become a new growth engine for China's economy, with investments of US$65.3 billion in renewable energy power plants last year.
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