China tipped to double solar installs to 85GW a year, pushing costs down by half | RenewEconomy

China, already the biggest manufacturer and the biggest installer of solar PV in the world, is tipped to double the annual installation of solar capacity to 85 gigawatts as it ramps up efforts to meet its newly declared zero net emissions target for 2060.

This is significantly higher than previous run rate of 30GW to 50GW  per year over the last five years, and will result in a significantly scaling down of new coal fired power, as new capacity focuses on solar and wind.

It is, of course, a deeply significant move. It equates to more than two thirds of annual solar installation across the globe in 2019 – 115GW – and nearly twice the capacity of Australia’s entire grid – and will result in a considerable ramp up of manufacturing capacity.

China tipped to double solar installs to 85GW a year, pushing costs down by half | RenewEconomy