Photovoltaic capacity forecast to grow 10% this year

UBS Securities' Yan said the industry’s profitability challenges due to supply-demand imbalances are also expected to ease this year. — Xinhua

BEIJING: Financial services provider UBS has forecast growth of 10% in China’s photovoltaic (PV) installed capacity this year, reaching between 260 and 280 gigawatts (GW), fuelled by ground-mounted installations particularly from state-owned enterprises.

“This year marks the conclusion of China’s 14th Five-Year Plan (2021 to 2025). Many state-owned enterprises are still 30% to 40% away from their targets set for 2025, possibly leading to increased PV installations, especially large-scale projects,” said Yan Yishu, China utilities analyst at UBS Securities.