China’s solar power industry has been reeling under the combined effects of falling prices and overcapacity. The country’s government, in a bid to support the ailing industry, has recently pledged to aid it further.
China’s Cabinet, the State Council, had announced earlier in July 2013 that the country aims to increase its solar power generation capacity fourfold by 2015 to reach an expected capacity of 35 gigawatts. This, according to officials, would help ease the current surplus in the solar power industry in China.
According to a statement that was published on the website of the State Council, China’s Ministry of Industry and Information Technology has been taking measures to further promote the growth and development of the photovoltaic industry.
The Ministry believes that as far as growth in the solar industry is concerned, consolidation of different enterprises would likely be the way forward. In view of this, the ministry is currently drafting various guidelines to promote acquisitions and mergers in the industry to promote standardization.
Currently, the ministry has also taken an initiative to promote technical innovation pertaining to solar power installations that are not connected to the main power grids. At the same time, the ministry has sad that it will be supporting initiatives geared towards the development and research of batteries that can store solar energy more efficiently.
Overall, the mood in the market, as created by the ministry, seems to be one that promotes orderly competition that will ultimately improve standardization.
According to a statement by the State Council recently, the solar industry had showed signs of recovery in 2013 as the industry recorded a 8GW increase in the total generating capacity of installed solar power.