What is the future development trend of solar PV in China?

For the pathway modelled in this study, in which the technology improvement rate of HSPV during the past five years was considered, the total installed capacity would increase from 253 GW in 2020 to 1998 GW and 4548 GW in 2030 and 2050, respectively. Fig. 3. Future development trend of solar PV in China.

How big is solar PV in China?

Solar PV of China accounted for about one third (174GW) of the global total installed capacity in 2018 and contributed to 3.5% of national total power generation in 2020 .

Will solar power increase in China by 2050?

Modelling results have led to the following main conclusions. It is predicted that the installed capacity of HSPV in China would increase at the rate of 13.7 GW/yr during the next decade driven by the long-term climate ambition, making up about 50% of the entire rooftop solar power market by 2050.

Are solar panels a good investment?

The first one is electricity bill savings since part of the electricity produced by solar panels is used for self-consumption, and the other is the extra gains by selling remaining electricity to the grid (all the generation is assumed for self-use if the generation potential is smaller than annual household electricity demand).

Will a virtual power plant boost distributed solar PV growth?

The development of virtual power plant facilitated by the internet of energy in the next several decades would further boost distributed solar PV growth , especially in China where about 6 trillion yuan is expected to be invested to building smarter grid during the 14th Five-Year-Plan.

Is solar PV a good alternative to fossil fuels?

As an important alternative to fossil fuel in electricity and heating supply, solar PV has been given unprecedented attention during the transition to a low-carbon, high efficient and secure energy system.