Suntech Power predicts that the cost of building large scale solar PV plants could match the cost of coal-fired generation in China by 2016, a development that will “completely transform” the energy market in the world’s second biggest economy.

Eric Luo, the CEO of Suntech Power, says that solar PV is rapidly catching up to the cost of coal-fired generation. (China is the world’s largest consumer of coal).

Suntech Power completed a buyout by Shunfeng Photovoltaic International in April 2014.