Despite the fact that China’s recent policy changes weigh on short-term forecasts, global solar capacity is expected to reach the 1 terawatt threshold by 2023, the latest quarterly report by GTM Research shows. In early June, market researchers rushed to lower their solar capacity addition forecasts for this year after China surprised everyone by announcing that it would not issue approvals for any new solar power installations this year and would also cut the feed-in tariff subsidy that had been a major driver of the solar business in the country that accounts for as much as 50 percent of global capacity. GTM Research reduced its China new solar capacity additions forecast by as much as 40 percent to 28.8 GW, with one analyst saying, “When the industry talks about China, it’s always about how demand in the region exceeds expectations. That is not going to be the case anymore.” […]

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