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China to Sustain Solar Growth With New Plan

China’s plans to loosen its solar subsidy policy will keep growth of the world’s largest market intact, according to the head of JinkoSolar Holding Co.  Installations will probably maintain at about 40 gigawatts, close to the levels last year, Chen Kangping, chief executive officer of the world’s largest panel maker, said in an interview in Beijing.

China’s main industry group said last month the country is planning more supportive policies, which include resuming quotas for some utility-scale projects.

The views from Chen suggest a brighter outlook for solar companies reeling from Beijing’s abrupt decision in the middle of 2018 to halt approvals for some projects, and reduce subsidies, as part of efforts to curb overcapacity. The move caused China’s solar additions to tumble last year from a record 53 gigawatts in 2017.

China Photovoltaic Industry Association said installations could climb in 2019 from 44 gigawatts last year. Citigroup Inc. meanwhile forecasts capacity additions of 42 gigawatts, with the potential for a rise to 50 gigawatts.

By way of contrast, the United States added 11.7 gigawatts of solar in 2018.

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