China’s PV industry had experienced faster growth than the world average since 2004, said Zhao Yuwen, head of the society’s PV committee. In 2003, China’s world market share was less than 2 percent, he said.
The world’s total installed PV capacity is projected to jump more than 65 percent annually to 12,200 MW this year, said Shi Zhengrong, chairman and CEO of Chinese solar panel maker Suntech Power Holdings Co., Ltd.
The industry would see overcapacity next year as slow economic recovery in many European countries had resulted in slower growth in clean energy investment, warned Shi.
China’s solar panel makers needed to be cautious about output expansion as 95 percent of their output relied on exports, Shi said.