China aims for 35 GW solar power capacity by 2015

Will have to add 10 GW over the next three years.

Analysts said the five-fold increase in capacity will lead to higher demand that could help cut industry oversupply that contributed to a 20% plunge in the average price of solar panels in 2012.

They believe Chinese solar panel makers are going to sustain high levels of growth and reduce some of the excess capacity, perhaps by 8 GW to 9 GW a year.