China is aiming for a fivefold increase in solar power generating capacity by 2015 to shore up domestic solar panel makers that are struggling with overcapacity. The country aims to install about 10 gigawatts of solar capacity annually from 2013-2015, bringing the total to more than 35GW by the end of 2015, according to a State Council statement posted on the central government's website. The 35GW target, which has been previously revealed by senior energy officials, is higher than the 21GW target announced by the National Energy Administration last year. Boosting the domestic market will help Chinese solar panel makers, the world's No. 1 producers, to cut their reliance on foreign markets at a time when trade disputes with Europe and the United States are hitting China's exports. The State Council, the country's Cabinet, also said that China will encourage mergers and acquisitions in the domestic industry and urged banks to provide credit support for big and efficient solar panel producers.