China to have 20 GW of installed solar power capacity by 2020

Solar Power

China is likely to attain more than 20 GW of installed solar photovoltaic (PV) capacity by 2020, more than 10 times the original 1.8 GW goal, said Shi Dinghuan, director-general of the China Renewable Energy Society

Gao Jifan, chairman of Trina Solar Limited (TSL.NYSE) said that multi-crystalline silicon now is in slight oversupply, which will help drive down the cost of solar power generation.

The prices of polycrystalline silicon will remain stable this year, said Stefan Kratz, general manager of Q-Cells SE in China.

Gao expected that China's average solar power cost would drop to one yuan/kW by 2012, 0.7 yuan/kW by 2015 and 0.4 yuan/kW by 2020.

Chinese investors and local governments have poured a massive amount of money into solar power investment, despite concerns about over overcapacity.

China saw more than 40 solar power deals signed so far this year with 12 GW of total capacity, according to Shi Dinghuan.

Chinese solar investors have also cast an eye on thin-film solar power, solar thermal power and concentrated solar power, with the help of technologies on off-grid power generation, smart grid and energy reservation.