China’s solar ‘wobble’ drags down growth

Bloomberg

Slumping solar development in China is hobbling growth worldwide.
While worldwide installations are still forecast to rise this year, BloombergNEF lowered its global outlook 6% from its previous forecast as an anticipated building boom hasn’t materialised in China, the world’s biggest clean-energy market, according to a report. BNEF now expects 121 gigawatts of solar to be installed globally.
“China, the big gorilla, is slowing down,” Jenny Chase, an analyst at BNEF, said. “It was never healthy for the solar market to be dependent on one or two countries.”
Efforts to streamline China’s solar sector have whipsawed the global industry. China will install about 28 gigawatts of capacity this year, a drop of almost 37% from the previous year, according to the new BNEF estimate.