Renewable Energy

China's solar power boom creates opportunities for UK businesses

Rapid growth in China's solar power industry will provide opportunities for UK businesses over the next five years, according to China market research firm CCM. China is now expecting to reach 70GW of installed PV capacity by 2018 after the National Development and Reform Commission raised targets again last year, which will almost certainly make China the world's largest market for solar power. CCM's research indicates that this goal should be achieved comfortably, meaning China's solar market should grow at least 40% per annum over the next five years. While almost all this new capacity will be manufactured and installed by Chinese companies, the firms are still dependent on imports for several key materials and technologies, which will provide excellent opportunities for UK businesses. Materials in short supply in China include silver paste, TPT backsheets, EVA encapsulant film and slurry material.


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