China's solar power industry leads the world with its capacity ranking 1st globally. And China is also the largest application market of solar power across the world.

Experts say that advanced technology and increasingly mature industrial chain will accelerate the realization of grid parity of solar power.

Grid parity occurs when an alternative energy source can generate power at a levelized cost of electricity that is less than or equal to the price of purchasing power from the electricity grid.

Wang Bohua, general secretary of the China Photovoltaic Industry Association, said that consumer-side grid parity will be achieved by 2020 and generation-side grid parity will be realized by 2025 according to current outline. Judging from rapidly declining production cost, these goals can be reached ahead of schedule.

According to data released by the China Photovoltaic Industry Association, from 2013 to 2016, cost of the silicon material, the module, the inverter and the system reduced by 44.4%, 41.6%, 57.1% and 27%, respectively.