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China's restrictions on new solar capacity this year have led GTM Research to reduce its 2018 installed capacity forecast by about 20 GW
.
GTM cuts China's 2018 solar capacity forecast by 40%
GTM Research is reducing its forecast for new solar capacity for China from 48 GW to 28.
8 GW
.
In 2017, China added about 53 GW of solar energy, accounting for more than
half of the global total.
GTM Research said reduced demand from China would lead to a new wave
of global oversupply.
According to senior solar analyst Jade Jones, this situation could lead to a 32% to 36%
drop in PV prices.
He noted that suppliers may be forced to slow down PV manufacturing capacity investments
.
On June 1, China halted the approval of new subsidized utility-scale PV projects in 2018 and set an annual cap of 10 GW of distributed generation capacity, while cutting feed-in tariffs and announcing that new utility-scale PV projects must compete
in auctions.
According to energy consultancy Wood Mackenzie, China's move is aimed at controlling the cost of subsidies, which could reach 250 billion yuan
by 2020.
In 2017, the cost of subsidies reached 100 billion yuan
.
GTM Research solar analyst Benjamin Attia expects upcoming solar auctions to hit record lows, with solar electricity prices falling below $20/MWh
over the next 12 months.
，
China's restrictions on new solar capacity this year have led GTM Research to reduce its 2018 installed capacity forecast by about 20 GW
.
GTM cuts China's 2018 solar capacity forecast by 40%
GTM cuts China's 2018 solar capacity forecast by 40%GTM Research is reducing its forecast for new solar capacity for China from 48 GW to 28.
8 GW
.
In 2017, China added about 53 GW of solar energy, accounting for more than
half of the global total.
GTM Research said reduced demand from China would lead to a new wave
of global oversupply.
According to senior solar analyst Jade Jones, this situation could lead to a 32% to 36%
drop in PV prices.
He noted that suppliers may be forced to slow down PV manufacturing capacity investments
.
On June 1, China halted the approval of new subsidized utility-scale PV projects in 2018 and set an annual cap of 10 GW of distributed generation capacity, while cutting feed-in tariffs and announcing that new utility-scale PV projects must compete
in auctions.
According to energy consultancy Wood Mackenzie, China's move is aimed at controlling the cost of subsidies, which could reach 250 billion yuan
by 2020.
In 2017, the cost of subsidies reached 100 billion yuan
.
GTM Research solar analyst Benjamin Attia expects upcoming solar auctions to hit record lows, with solar electricity prices falling below $20/MWh
over the next 12 months.
，
