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China’s flourishing x-electric vehicle (xEV) market kept domestic and foreign lithium battery manufacturers from Japan and South Korea running at full capacity in 2015, according to EnergyTrend, a division of TrendForce. The xEV boom has encouraged manufacturers not only to accelerate their capacity expansion efforts in China but also reallocate their capacities to boost xEV battery production.
EnergyTrend, a division of TrendForce, reports that the global PV market is seeing slowing demand after the Chinese New Year holidays. Peak installation seasons in the U.S. and Japan have passed, and the demand related to China’s efforts to connect its PV power plants to the grid is also subsiding as this mission is set to be completed at the end of June.
In China, more PV power plants are switching to mono-Si products. This factor and the impending end of the country’s installation rush have caused prices of multi-Si products (e.g. wafers, cells and modules) to level after the Chinese New Year holidays, said Corrine Lin, assistant research manager for EnergyTrend, a division of TrendForce.
EnergyTrend, a division of TrendForce, says several countries in the Sunbelt region have raised their respective renewable energy targets for the 2020~2030 period. Together, the targets of installed PV capacity of all Sunbelt countries are now over 400GW. Economic growth and adoption of carbon emission reduction policies are major factors that lead to increasing PV demand in Sunbelt countries.
The general outlook for the 2016 PV market has become more certain as China, the U.S. and the U.K. finalize their respective subsidy policies. “China plans to connect the country’s PV power plants onto the grid before the middle of the year,” said Corrine Lin, analyst for EnergyTrend, a division of TrendForce.