China Outstrips Germany to Become World's Biggest Solar Market

PR57545

BEIJING, Aug. 11, 2014 /PRN=KYODO JBN/ --

    Hanergy Holding Group and China New Energy Chamber of Commerce issue Global

Renewable Energy Report 2014

    Hanergy Holding Group (Hanergy) and China New Energy Chamber of Commerce

("CNECC"), today issued the Global Renewable Energy Report 2014. The report

found that China became the world's biggest market for solar power in 2013,

with the country's newly installed photovoltaic generating capacity jumping

232% on-year to 12 gigawatts (GW).

    Photo - http://photos.prnewswire.com/prnh/20140808/134753

    Key findings include:

    -- The global solar market is shifting from Europe to Asia. China's newly

installed solar capacity grew 232% year-on-year in 2013 to 12GW, whereas

Germany's newly installed capacity fell 56.5% to 3.3GW and Italy's dropped 55%

year-on-year to 1.6GW.   

    -- Financing activity reflects this shift. China accounted for the largest

proportion of global solar industry financing at $23.56bn, equivalent to the

entire amount raised in Europe.

    -- The growth of the solar industry continues to accelerate. Globally,

newly installed solar capacity reached 38.7GW, bringing the global total of

installed capacity to 140.6GW in 2013, compared with 101.9GW in 2012.   

    -- The shift from fossil fuel to renewable energy continues. Total global

power generation grew 4.3% from the previous year, to 22513.8 terawatt-hours

(TWh), while renewable energy power generation grew at 13% per annum,

accounting for 5.2% of the world's total output.

    -- Global production of thin-film solar cell was about 4GW in 2013, up 20%

from 2012. Many thin-film solar companies expanded capacity in 2013 and sought

out diversified markets, achieving economies of scale through global mergers

and acquisitions and upgrading production line technology.

    "Our research shows that China has already become the world's biggest solar

market. Now the country is moving to a more green and sustainable model of

development which will drive future global growth in renewable energy,"

Chairman and CEO of Hanergy & President of the China New Energy Chamber of

Commerce, Li Hejun said.

    "Governments are turning to greater use of renewable energy to tackle

pollution and deliver energy security, underpinning growth momentum in the

global renewable energy industry," he added.

    The Global Renewable Energy Report drew on data from Bloomberg New Energy

Finance, GlobalData and Hanergy and CNECC's own research teams. Data from the

International Energy Bureau, China Electricity Council, US Energy Information

Administration, the Global Wind Energy Council, the Global Hydropower

Association and the International Geothermal Association were also used.

    The full report can be downloaded free of charge from Hanergy's website:

http://www.hanergy.com/en/upload/contents/2014/07/53bfa4772d9f6.pdf

    About Hanergy Holding Group Ltd.

    Hanergy Holding Group Ltd. ("Hanergy") is a global clean-energy power

generation company and the world's largest thin-film solar company and

solutions provider. Hanergy engages in the integration of the entire

photovoltaic industry chain, covering R&D, high-end equipment manufacturing, PV

module production and the construction of photovoltaic power plants. Hanergy

possesses industry-leading CIGS thin-film PV technology and has the world's

largest production capacity of thin-film modules. To date, the company has

entered into solar-power plant construction agreements with a combined capacity

of approximately 10GW. Its business also covers hydropower and wind power.

Headquartered in Beijing and with operations across China, the Asia Pacific,

North America and Europe etc., Hanergy employs over 10,000 people.

    SOURCE: Hanergy Holding Group Ltd.