China rooftop solar panel market is estimated to grow considerably at a CAGR of around 8.2% during the forecast period. China is one of the leading countries in Asia-Pacific that contributes to the growth of the rooftop solar panel market. Solar PV in China is a growing industry with the presence of numerous companies in the country. In the present time, a noteworthy reduction in the FIT (feed-in-tariff) coupled with the significant quantity of solar power exports from the country is driving the Chinese solar sector. China held a significant share in the rooftop solar panel market and is projected to continue its dominance during the forecast period as well.
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In 2009, the National People’s Congress set a long-term target of the capacity of 20-30 GW by 2030. In 2011, the government announced that the plan might be exceeded several-fold, with the installed capacity possibly reaching as much as 10 GW by 2020. In 2007, according to plans disclosed by the National Development and Reform Commission, the country’s installed solar capacity is expected to grow to 1,800 MW by 2020. Such measures are expected to create opportunities for the significant growth of the market in the near future.
Moreover, in terms of production of solar cells, China dominated the market, according to International Energy Association, the country registered a total of 66% share in the overall production of solar cells across the globe. It is expected to be followed by Taiwan and Malaysia. These statistics signify the fact that the cost associated with the solar panels is expected to be significantly less in China; this is expected to be one of the key reasons which will promote the adoption of solar panels for rooftop installation in China in the near future.
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China Rooftop Solar Panel Market Segmentation
By Type
· Monocrystalline Solar Panel
· Polycrystalline Solar Panel
· Thin-Film Crystalline Solar Panel
· Amorphous Silicon (a-Si)
· Cadmium Telluride (CdTe)
· Copper Indium Gallium Selenide (CIS/CIGS)
· Other Solar Panels
By End-User
· Household Sector
· Corporate Sector
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
