In May 2016, the National Development and Reform Commission released a notice on the purchase of electricity generated by wind and solar power, to ensure that renewable energy receives the highest priority. The firm's interim report shows the revenue of the group's solar energy business has increased by nearly 233 percent year-on-year to 929 million yuan in the first six months of last year.
In the same period, there was corresponding increase in profit－the figure surged to 261 million yuan, up by approximately 129 percent from a year earlier.
GCL has operated 68 solar power plants spanning 19 provinces nationwide in the first half of 2016, compared to 17 plants in the same period in the previous year. The total capacity amounted to 2,735 mW by June 2016, representing a year-on-year growth of 254 percent.
In 2013, China overtook Germany to become the world's biggest market for solar power, with its newly installed solar capacity up by 232 percent year-on-year to 12 gW, according to the Global Renewable Energy Report 2014.
Li Wenxue, president of the Xi'an-based Lerri Solar Technology Limited Company, said: "Distributed power generation, especially rooftop distributed power plants, will develop rapidly in the next few years."
Data shows China's solar energy industry has gained a strong growth momentum, as the country attempts to meet the commitment to allowing carbon dioxide emissions to peak around 2030.
China's newly installed solar power capacity grew by 52 percent year-on-year to 7.14 gWin the first quarter of 2016 and the accumulated solar energy installed capacity is more than 50 gW, according to the National Energy Administration of China.
