Japan to displace China as largest solar market in 2014

China-solar-industry

China is losing its solar capacity target of 14 GW this year, which means Japan will emerge as the largest solar power in the world in 2014, reports Bloomberg New Energy Finance.

Japan is expected to add 10.3 GW to 11.9 GW of solar power in 2014.

China-solar-industryAs part of its strategy to promote distributed solar power, China has intentionally delayed many of its utility scale projects to make way for more rooftop installations. More such projects are planned on rooftops of factories and other buildings.

China had almost 20 gigawatts of solar capacity at the end of 2013 and is targeting a total of 35 gigawatts of installations by 2015.

Solar power accounts for about 2 percent of China’s electricity generation capacity, up from 0.08 percent four years ago and double what nuclear power contributed last year, BNEF said.

The scenario will pose challenge to small solar companies that focus on domestic market. Big players like Yingli Green Energy, Suntech and Trina Solar have expanded to other markets, and are earning huge margins.

[email protected]