Trina CEO expects 10x growth in China solar market

Changzhou, China-based Trina Solar (NYSE: TSL) is forecasting rapid growth of the solar sector and its own sales in China thanks to new government subsidies. 

In late March, the Chinese Ministry of Finance revealed a nearly $3-per-watt subsidy for installed solar that is expected to halve the cost for installations 50 kilowatts or more (see New solar subsidies in China set to reduce installed cost by half).

Trina CEO Jifan Gao told the Shanghai Daily that the company's sales in China are set to grow from about 2 megawatts in 2008 to 10 MW in 2009. In the same period, the company's production capacity is planned to expand from 201 MW to 400 MW of solar modules. 

The growth of the Chinese market is even more pronounced when looking about three to five years ahead, Jifan said. He expects China to account for 10 percent of the global photovoltaic market by then—up from less than 1 percent now.

The U.S. market is also expected to follow similar growth patterns thanks to new government subsidies (see Solar takes stock after tax-credit battle). Jifan said he expects the U.S. to drive 15 percent of Trina's sales this year, up from less than 5 percent in 2008.

Two weeks ago, Morgan Stanley cut the target for Trina and other solar manufacturers, citing sluggish demand, large supply increases and excess inventory throughout the value chain (see LDK stock spikes despite dismal Morgan Stanley solar report).

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