Only 3.7GW of PV projects under construction in China: IHS

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The global solar PV project pipeline has reached 132GW, according to market research firm, IHS, and while China may have a pipeline of 26GW, only 3.7GW is said be currently under construction.

China installed around 3GW of PV in the first six months of 2014, which suggests that with only 3.7GW under construction at the end of August, at least another 6GW needs to be installed before the end of the year to meet China’s stated target of 13GW.

The US also has its work cut out due to the expected expiry of the ITC tax relief in 2016 as IHS said the US currently had a PV project pipeline totalling 35GW. 

However, IHS noted that a large part of the US pipeline remained planned but had not secured power purchase agreements (PPAs). IHS said that large projects that were unsuccessful in obtaining PPAs by mid-2015 would likely not be built. 

The market research firm said that California remains the key location for large (20MW and above) PV projects with 3.2GW already installed. A further 1GW was said to be under construction. 

With the US and China said to be holding close to half of the world’s planned PV projects, other regions such as Chile and the UK have come into focus. 

Project developers in the UK are challenged by the end of the ROC scheme in April 2015. While the UK PV pipeline was said to currently stand at 7.2GW, IHS said that only around a further 4GW could be installed from the third quarter of 2014 through to the end of the first quarter of 2015. The rush in the UK is therefore on with IHS noting that should the 4GW mark be met in the time remaining then the UK’s installed capacity would have doubled in just nine months. 

Chile has long been a seen as a major emerging market. IHS said the project pipeline stood at around 9GW, with 100MW installed by the end of 2013, and further 600MW currently under construction. 

According to IHS, only 10GW of projects are currently under construction globally.

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