China's output of solar cells jumps to 44% of world total

subscribe

China's output of solar cells jumped to more than 3 gigawatts (GW) in 2008, accounting for 44% of the world's total. In 2008, the global output of solar cells reached 6.85 GW, which almost doubled the output of 3.44 GW in 2007.

The market share of Chinese solar cells manufacturers (including manufacturers in Taiwan) has continued to increase in recent years. In 2007, the market share of Chinese solar-cell manufacturers in the global market jumped from 20% in 2006 to 35% in 2007 and then increased to 44% in 2008, making China the top-ranking solar-cell manufacturer in the world for two successive years.

According to the latest report issued by the European Photovoltaic Industry Association, Europe remained the most important market in the global solar energy market in 2008. The volume of the global photovoltaic market jumped from 2.4 GW in 2007 to 5.5 GW in 2008. Spain accounted for nearly half of this newly installed capacity. The production value of the global solar energy industry reached $37.1 billion in 2008.

Despite the global economic downturn, China's investment in the new-energy industry maintained a high level. Investment in solar energy showed a more rapid development than other new-energy industries.

The latest statistics show that the annual average growth in China's new energy market reached 67% from 2006 to 2008. The investment of venture capital in new energy in the Chinese mainland has continuously increased since 2006. In 2007, the investment was just $590 million, which rose to $1.3 billion in 2008, an increase of 120.3%.

In addition to the support of government policy, the huge growth potential and high profit are important factors for the swift development of the industry.

Related News

Africa must quadruple power investment to supply electricity for all, IEA says

JOHANNESBURG - African countries will need to quadruple their rate of investment in their power sectors for the next two decades to bring reliable electricity to all Africans, an International Energy Agency (IEA) study published on Friday said.

If African countries continue on their policy trajectories, 530 million Africans will still lack electricity in 2030, the IEA report said. It said bringing reliable electricity to all Africans would require annual investment of around $120 billion.

“We’re talking about 2.5% of GDP that should go into the power sector,” Laura Cozzi, the IEA’s Chief Energy Modeller, told journalists ahead of the report’s launch.…

READ MORE
sask power lines

SaskPower to buy more electricity from Manitoba Hydro

READ MORE

Nord Stream

Nord Stream: Norway and Denmark tighten energy infrastructure security after gas pipeline 'attack'

READ MORE

cape town electricity

Cape Town to Build Own Power Plants, Buy Additional Electricity

READ MORE

power lines

Typical Ontario electricity bill set to increase nearly 2% as fixed pricing ends

READ MORE