China has become the world’s leading solar market, dwarfing Germany and the US
China has been aggressively pursuing solar energy in recent years. In 2015, the country brought more than 15 gigawatts of new solar capacity online, surpassing Germany as the largest solar market in the world. Now, China has more than 43.2 gigawatts of solar capacity in place. By comparison, Germany is home to 38.4 gigawatts of solar capacity, with the United States having 27.8 gigawatts of capacity online. China has shown no signs of slowing its adoption of solar energy, which may introduce new economic opportunities for the country in the coming years.
Country expects to install more solar capacity in the coming years
China has released new projects concerning the installation of new solar capacity. As part of the country’s Five Year Plan, China is expecting to triple its solar capacity by 2020, adding as much as 20 gigawatts of solar capacity every year over the next five years. By the end of 2020, the country is expected to have more than 140 gigawatts of solar capacity in place. This will further establish China as the world’s leading solar market, especially as installing new solar capacity in other parts of the world begins to lose momentum.
Reducing emissions is becoming a priority for China
The country has a very specific interest in supporting solar power. China is the world’s largest producer of carbon emissions, and many of its bigger cities are being choked by smog, which has been linked to series health problems among the population. In an effort to curb emissions, the country has been investing in renewable energy and clean transportation. This has resulted in China becoming one of the world’s largest manufacturers of solar panels, which has contributed heavily to the fall of solar power throughout the world.
Country continues to invest heavily in clean energy
Within the near future, China may become one of the strongest fighters in the battle against climate change. This will require more aggressive focus on renewable energy, however, and reducing the country’s reliance on fossil-fuels. Solar energy has, thus far, become the country’s favored form of clean power, but it is also investing in other types of renewable energy that could help it accomplish its goals in the coming years.