China is world's No. 3 solar panel market

BEIJING - China became the world's third-largest solar panel market in terms of new installations in 2011, said a report published on Wednesday.

The country's solar panel electricity systems market is rapidly expanding, with nearly 25 gigawatts (gW) worth of projects in the pipeline, said the report by NPD Solarbuzz, an international solar energy market research and consulting company.

The report covers nearly 1,449 non-residential solar panel projects in China, each of which is more than 50 kilowatts in size.

About 330 of the projects were finished in 2011 with an accumulative capacity of 2.7 gW. The rest are either under construction or pending approval.

According to the report, China's solar panel market is driven by the declining cost of solar power systems and government incentives.

The high return of investing in China's solar panel market has attracted more and more investment from State-owned companies and private sectors, leading to a striking rise in the number of new projects, the report says.

 http://www.chinadaily.com.cn/usa/business/2012-03/05/content_14759356.htm