| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 0.78 Thousand gigawatt |
| Market Volume (2030) | 2.49 Thousand gigawatt |
| CAGR (2025 - 2030) | 26.09% |
| Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
China Solar Photovoltaic Market Analysis
The China Solar Photovoltaic Market size in terms of installed base is expected to grow from 0.78 thousand gigawatt in 2025 to 2.49 thousand gigawatt by 2030, at a CAGR of 26.09% during the forecast period (2025-2030).
- Over the medium term, favorable government policies and increasing adoption of solar PV systems, with the declining price of solar panels and installation costs, will likely support the growth of the global solar energy market during the forecast period.
- On the other hand, factors like the growth of other renewable technologies, such as wind and bioenergy, are expected to hinder market growth.
- Nevertheless, the efforts of governments to provide 100% electricity access in remote areas coupled with off-grid applications and technological advancements in solar PV modules are expected to create ample opportunities in the near future.
China Solar Photovoltaic Market Trends
Ground Mounted to Dominate the Market
- Ground-mounted solar PV systems are designed to capture sunlight and convert it into electricity. Unlike rooftop solar panels, which are installed on the roofs of buildings, ground-mounted systems are placed on the ground, either fixed in place or equipped with tracking systems to follow the sun's path throughout the day.
- Ground-mounted solar for commercial or utility projects is economical, owing to the economies of scale, number of installations, and operation and maintenance efficiencies. On the other hand, rooftop solar is used in small residential projects, less than 1 MW. Increasing competition and technical advancements in large-scale utility projects have led to cost reductions in both installation, operation, and maintenance prices.
- The ground-mounted solar PV installation has witnessed significant growth in installed capacity in recent years, mainly due to increased investments and favorable government policies for ground-mounted utility-scale solar PV projects.
- In March 2022, the Chinese government announced plans to build 450 GW of solar and wind power generation capacity in the Gobi desert and other desert regions, with the construction of nearly 100 GW of solar power capacity already under construction.
- According to the International Renewable Energy Agency (IRENA), China's installed solar PV capacity was around 392.43 GW in 2022, up from 306.4 GW in 2021, recording a growth of around 28% in the year. The growth is the result of rapid deployments of rooftop PV installations in the country.
- Additionally, China is also expected to witness significant growth in utility-scale ground-mounted solar PV systems during the forecast period. The country’s total solar capacity is expected to reach 500 GW by the end of 2023 and 1 TW by the end of 2026.
- Increasing competition and technical advancements in large-scale utility projects have led to cost reductions in both installation and operation & maintenance prices.
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Supportive Government Policies to Drive the Market
- China is the largest solar energy market globally, and the country is expected to retain the top position during the forecast period. The National Development Reform Committee (NDRC) announced China's 14th Five-Year Plan on renewable energy in June 2022 following the release of China's 14th FYP on the overall energy sector during 2021-2025. Along with capacity targets and general guidelines, the plan also includes plant-level details and measures to support renewable energy consumption, which are essential to its implementation.
- The national government target indicates the doubling of renewable generation by 2025 from the 2020 level, but provincial targets and project pipeline dynamics suggest an aggressive deployment pace. The provincial renewables targets for wind and solar power added to 1,263 GW by 2025, which, if all projects are commissioned on time, will result in China meeting its 2030 Nationally Determined Contribution (NDC) target five years earlier.
- Solar energy is an integral part of China’s renewable energy strategy. As a manufacturing hub of solar equipment, the country has been rapidly adding solar capacity across all end-user segments. As per the China Photovoltaic Industry Association (CPIA), in 2022, the new solar PV installed capacity reached over 87 GW, while the cumulative installed capacity of solar was 393 GW in the same year.
- As per the National Development and Reform Commission (NDRC) of China, a solar capacity of 1200 GW is expected to become active by 2030. This indicates massive development of solar energy projects in the country, which would likely drive the solar photovoltaic market in the forecast period.
- Further, China has one of the lowest total installed costs and LCOE of utility-scale solar PV globally, which has also been a major factor in driving demand in the region. According to IRENA, as of 2022, The global weighted average LCOE of utility-scale PV plants declined by 89% between 2010 and 2022 from USD 0.445/kWh to USD 0.049/kWh. This estimate also represents a 3% year-on-year decline from 2021. The cost of utility-scale solar stood at 715 USD/kW in China, which is much less compared to many other countries. Additionally, from 2010 to 2022, total installed costs fell by nearly 89%. Such low costs have enabled developers to establish larger utility-scale solar farms. This trend is expected to continue during the forecast period and drive the demand for solar PV in the country.
- Overall, with the ambitious solar energy targets and government plans to develop localized manufacturing hubs for equipment and components are expected to witness significant growth of the solar PV market in the country.
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China Solar Photovoltaic Industry Overview
China's solar photovoltaic market is fragmented. Some of the major key players in the market include Trina Solar Limited, JinkoSolar Holding Co. Ltd, Wuxi Suntech Solar Power Co., Ltd., China Sunergy Co., Ltd., and JA Solar Holdings Co. Ltd., among others.
China Solar Photovoltaic Market Leaders
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Trina Solar Limited
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JinkoSolar Holding Co. Ltd
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China Sunergy Co., Ltd.
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JA Solar Holdings Co. Ltd
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Wuxi Suntech Solar Power Co., Ltd.
- *Disclaimer: Major Players sorted in no particular order
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China Solar Photovoltaic Market News
- January 2023: China Three Gorges (CTG) announced the commencement of construction for the 16 GW solar, wind, and coal project. The company added that the installation would eventually include 8 GW of solar power capacity, 4 GW of wind power, and 4 GW of coal-fired generation, in addition to energy storage.
- August 2022: The Chinese government announced a new 120 MW solar installation spread across 11 rooftops in China’s Jiangxi province, which is expected to be the world’s largest single-capacity, building-integrated PV project. The project consists of 11 sub-installations covering a total rooftop space of roughly 665,000 square meters in an industrial park. The project uses the CITIC Bo BIPV-Zhiro solution and is expected to generate around 120 GWh of solar energy annually. Source: https://www.mordorintelligence.com/industry-reports/Asia-Pacific-rooftop-solar-market.
China Solar Photovoltaic Industry Segmentation
Photovoltaic solar energy is a clean, renewable energy source that uses solar radiation to produce electricity. It is based on the so-called photoelectric effect, by which certain materials can absorb photons (light particles) and release electrons, generating an electric current.
China's solar photovoltaic market is segmented by product type and end-user deployment. By product, the market is segmented into thin film, multi-si, and mono-si. By end-user, the market is segmented by residential, commercial and, industrial, and utility. By deployment, the market is segmented into ground-mounted and rooftop solar.
For each segment, the market sizing and forecasts have been done based on installed capacity (Gigawatts).
| Type | Thin Film |
| Multi-Si | |
| Mono-Si | |
| Deployment | Ground Mounted |
| Rooftop Solar | |
| End-User | Residential |
| Commercial and Industrial | |
| Utility |
Type
| Thin Film |
| Multi-Si |
| Mono-Si |
Deployment
| Ground Mounted |
| Rooftop Solar |
End-User
| Residential |
| Commercial and Industrial |
| Utility |
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China Solar Photovoltaic Market Research FAQs
How big is the China Solar Photovoltaic Market?
The China Solar Photovoltaic Market size is expected to reach 0.78 thousand gigawatt in 2025 and grow at a CAGR of 26.09% to reach 2.49 thousand gigawatt by 2030.
What is the current China Solar Photovoltaic Market size?
In 2025, the China Solar Photovoltaic Market size is expected to reach 0.78 thousand gigawatt.
Who are the key players in China Solar Photovoltaic Market?
Trina Solar Limited, JinkoSolar Holding Co. Ltd, China Sunergy Co., Ltd., JA Solar Holdings Co. Ltd and Wuxi Suntech Solar Power Co., Ltd. are the major companies operating in the China Solar Photovoltaic Market.
What years does this China Solar Photovoltaic Market cover, and what was the market size in 2024?
In 2024, the China Solar Photovoltaic Market size was estimated at 0.58 thousand gigawatt. The report covers the China Solar Photovoltaic Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the China Solar Photovoltaic Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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China Solar Photovoltaic Industry Report
Statistics for the 2025 China Solar Photovoltaic market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Solar Photovoltaic analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
