According to an official from China’s solar industry association, the country has produced 59 gigawatts (GW) worth of solar panels during the first half of the year, with production going up by 15.7% from a year ago.
The Wuhan coronavirus appears to not have affected the sector in China.
In an online briefing, Wang Bohua, vice-chairman of the China Photovoltaic Industry Association stated, newly installed solar power capacity in China has increased by 0.9% to touch 11.5 GW, with full-year capacity expected to touch 35-45 GW.
Following a record of 53GW of installed capacity 2017, China has been slowly stripping away subsidy for new solar power projects. The subsidy has left the state with a payment backlog in excess of $28.70 billion (200 billion yuan).
As a result many plant are operating without subsidy.
“The cost of solar products are falling more rapidly than expected,” said Wang while noting that construction costs were now as low as 3.96 yuan per watt, a milestone that the country reached three years earlier than forecast.
He also mentioned, “the coronavirus outbreak also had an impact on the costs of raw materials in the first half”.
He went on to add, “exports were also robust this year, with shipments of completed solar modules hitting 27.7 GW from January to May, down 1.8% on the year, though earnings fell as a result of the price decline.”
The export of solar modules to the United States touched $310 million during the January to May period, said Wang.