A new report by RnRMarketResearch.com has found that Chinas solar battery market is set to enjoy a 14% annual rise each year between now and 2018, reaching 65 GW of installed capacity by that date.
The report, titled Development Status and Investment Prospect of Global and China Solar Battery Industry, 2014-2018, analyzes Chinas storage market size, the level of current and expected demand, market competition and major solar battery manufacturing enterprises.
Chinas widespread adoption of solar PV will help accelerate the sector, the report finds, spurring growth between now and 2018. In 2013, the global PV battery output was 36.5 GW, with China accounting for a 28.86 GW share of the total global figure.
Looking back, solar battery output in China was already 4.38 GW in 2009, which at the time represented 39.8% of global market share, said the report.
Analysts at both Bloomberg New Energy Finance and GTM Research told pv magazine that China will begin to play an ever-increasingly important role in the growth of the global battery storage market in the near future, particularly at large-scale as the countrys solar industry continues to soar.
Last week, Chinas National Energy Administration (NEA) boosted the countrys 2015 solar installation goal by 20%, rising from 10.5 GW in 2014 to a targeted 15 GW this year.
Aprils edition of pv magazine features an article covering the evolution of large-scale storage technologies worldwide. The issue is published on April 13.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.