China sets new world record in 2014
China the leading solar hub have set new records in the last year, 2014. The country produced the largest quantities of solar products and achieved new efficiency and capacity levels in the last year. The country which houses the leading solar companies today globally, is now set to install another 15 GW by 2020. China has by far been the largest country to install 12 GW of solar power in one year, in 2012. The country is trying to reduce its carbon footprint and shift to the more cleaner and greener sources of power.
Most of the leading solar companies turned profitable in the last year. They utilized almost 85% of their production capacities and many companies like Jinko Solar also have plans of further increasing capacity in 2015. These companies are planning to shift their production bases to South East Asian countries to avoid the anti-dumping duties. The solar companies like Jinko Solar, Canadian Solar and Trina Solar also announced creation of new yieldcos in the near future. These yieldcos enable the transfer of solar assets from the solar companies and in turn the companies turn more profitable. The best example of en existing yieldco is Terraform Power, formed in July 2014 by SunEdison.