China’s photovoltaic industry is booming even when the global economy is gloomy. The installed photovoltaic capacity increased 161 percent in the first three quarters year on year.

It is predicated that Chinese photovoltaic industry will surge and its cumulative installed capacity will reach 43 million kilowatts. China is likely to replace German to rank first as to photovoltaic application.

With the support of related policies, Chinese photovoltaic industry gradually got out of downturn and began to recover in 2015. Economic Information Daily leant from China’s Photovoltaic Industry Association that the total output of China’s photovoltaic industry exceeded 200 billion yuan and the export volume of main photovoltaic products reached 10 billion US dollars in the first three quarters.

The statistics of National Energy Administration show that the installed photovoltaic capacity in China has amounted to 38 million kilowatts. The newly installed photovoltaic capacity has increased 161 percent year-on-year, reaching 9.9 million kilowatts from January to September this year.

“The yield rate of development of photovoltaic power station can reach 8 to 10 percent, much higher than the manufacturing industry,” said Gao Jifan, chairman of China’s photovoltaic industry association. He said the investment in photovoltaic industry increased 39.4 percent year on year to 68.5 billion yuan in the first eight months of 2015.