London, 05 August 2015 – Technavio, a tech-focused research firm, has published a new report on the solar power market in China, which is expected to grow at a CAGR of over 26% from 2015-2019.
The new Technavio report draws attention towards the environmental impact China has with its high coal consumption, which has been the main reason for more than half of the global carbon dioxide emission growth in the last 10 years.
“Installing solar power can help reduce environmental damage, as solar energy emits only 99 kW of carbon per hour, thus proving to be a more environmentally friendly source of energy,” says Faisal Ghaus, Vice President of Technavio.
The report also emphasizes the high production of solar panels and China being the leading solar panel manufacturing hub. Extensive solar panel production and the availability of raw materials, such as polysilicon, at very low prices are expected to elevate the growth of the market.
“The Chinese government is providing financial support to encourage the development of the solar manufacturing industry, thus many vendors have heavily invested in setting up manufacturing facilities in China, which has significantly boosted the production of solar panels in the country,” adds Ghaus.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
