China’s National Energy Administration announced ambitious new development targets for solar and wind energy. By 2015, China aims for 15GW solar capacity and 100GW of wind capacity, according to data from the National Energy Administration.
China’s solar power target has increased 50% from its previous development plan. Solar installations in China have notably increased after the government finalized grid feed-in-tariff programs in July, encouraging developers to put projects into operation before the end of the year.
The nuclear power crisis at Japan’s Fukushima Plant has spurred Chinese interest in solar. Although the nation boasts the world’s top spot in photovoltaic production and exports, thus far its domestic installations have been lagging behind other nations, such as the United States and Germany.
If China is successful in its development agenda, the country will experience a remarkable increase in solar capacity – 15GW by 2015 up from just 1GW at the end of 2010 – which could ensure its place as one of the world’s major market forces.