China will add 619GW of PV installed capacity in 2030

2021-07-23 13:18
According to data from Wood Mackenzie, a Scottish data company in the United States, by 2030, China will add 619 GW of solar power to global solar power stations. Analysts also predict that in a statement on the Asia-Pacific region, Indonesia will become the fastest growing region in the region solar mounting market.

China will add 619GW of PV installed capacity in 2030
WoodMac consultant Zhang Xin said that China will continue to lead Installed capacity of solar mounting structure in the Asia-Pacific region triples to 1.5 TW by 2030.
According to the report released by WoodMac yesterday, India will add the second largest solar energy in this ten years, followed by Japan, South Korea, Vietnam and Australia, but the Indonesian market will become the fastest growing market, from a small one from today’s 300MW It is estimated to be 8.5GW in 9 years.
The Asian Development Bank last year provided a $600 million loan to the state-owned power company Perusahaan Listrik Negara to expand power supply, which will largely contribute to this rapid growth.
Zhang said that India will not be able to achieve its ambitious goal of reaching 100 GW of installed solar bracket capacity by next year, but it will rebound from the current Covid-induced downturn and eventually increase by 138 GW by the end of this decade.
By 2030, Japan will become the third largest market in the region, although high prices have slowed down new installations. Nevertheless, the country will add 63 gigawatts of solar energy in the next nine years, staying ahead of the 58 gigawatts expected by the Korean market, and WoodMac said the market is rising.
The solar boom driven by feed-in tariffs in Vietnam-5.5 GW of power generation capacity installed in 2019 and 13.8 GW installed last year-will slow to 2026 as subsidies are gradually reduced, but will return to the expected 45 analysts It is predicted that as solar prices reach grid parity, GW by 2030.
WoodMac pointed out that Australia will add 23 gigawatts of solar power generation by the end of this decade because of the demand for green hydrogen and state government rather than federal policies.
Small scale
Analysts report that for the remainder of the 2020s, large projects will continue to account for 53% of China’s projected new capacity, but in other parts of the region, land restrictions and increasing affordability will allow small-scale “distributions”. The “distributed solar bracket power generation” system becomes possible. More popular. The analyst said that by 2030, this type of small home and commercial arrays will provide more than 60% of the region's new capacity outside of China, ensuring that 51% of the new arrays in the entire Asia-Pacific region will be small by then. scale.
WoodMac said that after installing 1.5 TW of power generation capacity in the region, the share of solar energy in the total power generation portfolio will rise from 4% to 10% within 9 years. By then, photovoltaic power generation will account for 20% of Australia’s electricity and 15% of Vietnam’s .

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