So it now has 23GW of solar power supply. That makes China second only to Germany’s 36 GW.
China consumes energy in huge volumes with coal serving as the country’s main power source. However, the Chinese government aims to cut dependence on coal as well as on hydrocarbons by boosting its solar energy production mainly because of environmental reasons. The use of coal in energy production resulted in choking clouds of air in big Chinese cities. So, the Chinese government announced it would ban the use of coal in Beijing by the end of 2020. China embraced solar-powered electricity in 2011. According to Hanergy Holding Group report, China installed 12 GW of new photovoltaic (PV) generation capacity in 2013, which represents a massive 232% increase compared with 2012. Meanwhile, in Germany new solar power additions dropped 56.5%, and in Italy, by 55%. By virtue of the largest proportion of the government’s financing, China has become a leader in terms of installed capacity of solar power plants. Unlike the Chinese government, Europe’s and US officials spend much less on the development of solar energy. In case this dynamic persists, China will become the center of the global solar energy industry.
FX.co ★ In H1 2014, China has added 3.3GW of solar photovoltaic power capacity.
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