We’re used to big numbers from China, but the reported 20 gigawatts or so of solar power that was installed in the first half of 2016 are worth a close look.
The figures are preliminary, but the story that they tell is clear: In the first half of the year alone China installed more solar power than any other country has ever done in total, since the dawn of solar power, except for Germany, Japan, and the U.S.
China’s first-half solar installations were larger than the cumulative total of everyone outside of the big three listed above – larger than Italy, Britain, France, and Spain, all of which for years had aggressive subsidy programs to encourage solar power.
For China, the 20 gigawatts of new solar power installed in the first half of 2016 is as much new solar capacity alone as Switzerland’s total electricity generating capacity.
Is China’s solar power infatuation a bubble that inevitably will burst? Or is something more fundamental happening in China’s electricity market, where more than 60 percent of electricity is still produced by coal?
Originally published in Forbes. Can be accessed here.