China to install over 110 mln kw of solar power by 2020

BEIJING - China will install over 110 million kilowatts of solar power by 2020, according to the National Energy Administration (NEA).

The world's top energy consumer will install at least 105 million kilowatts of photovoltaic power capacity by 2020, according to the solar power development plan for the next five years released by NEA on Friday.

China will reduce the costs for producing photovoltaic power and lower its price by at least 50 percent compared with that of 2015, the plan added.

China produced the world's largest installed capacity of photovoltaic power in 2015, with an annual growth rate of over 33 percent from 2011 to 2015.