With more local rooftop installations, China expects to promote wider use of solar energy and cut down costs for transmission cables. Additionally, the wider use of solar panels would help wean the country off dirtier coal-fired power more quickly.
Looking ahead, observers believe China will add as much as 8 gigawatts of distributed solar systems in 2015 out of 15 gigawatts of total photovoltaic power.
“Beijing’s solar policy of concentrating on distributed generation with ongoing tweaks to make it more effective is actually very solid in the mid- to long-term,” Charles Yonts, head of sustainable research at brokerage CLSA Asia-Pacific Markets, said in the article.
Guggenheim Solar ETF
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Max Chen contributed to this article.