Deutsche Bank has said in an investor note that its PV demand estimate of 12GW for China is at the bottom end of its projections for the country in 2014.
The forecast follows negative reactions to market forecasts and wrongly interpreted Chinese government guidance on PV installation targets for 2014.
Continuing to make checks on the possible demand drivers in China and recent sharp increases in the spot market price of polysilicon, Deutsche Bank’s research analyst, Vishal Shah, said in the note that the Chinese government's latest target to add 14GW of PV in 2014 could easily be exceeded.
The rationale comes from the target set by the Chinese Government in 2013 for 10GW of installations that according to Deutsche Bank’s most recent checks is expected to have been exceeded by around 2GW.
With the Chinese government's target raised to 14GW in 2014, Shah noted that a further 2-4GW was actually likely to be grid connected in China this year, pushing Deutsche Bank’s bullish forecast for the country to a much as 18GW.