Back in the early 2010s, Chinese interest in the energy transition industry created a solar panel tsunami. Cities and provinces all wanted their own factories, giving local entrepreneurs low-cost land and easy credit. A Chinese group, Suntech, became the world leader, while the German players disappeared. Suntech in turn filed for bankruptcy.
To satisfy foreign countries' rising needs for PV, the manufacturing of solar panels in China has been rapidly growing on the back of foreign technology and capital. But the boom was short-lived because of the 2008 financial crisis, which contracted a lot of demand from Western countries.
In 2023, China built more than 216 gigawatts of photovoltaic panels, more than the entire capacity in the US. Translation of an original article published in French on lemonde.fr; the publisher may only be liable for the French version.
The country is speeding up the installation of solar panel fields on its territory at an unprecedented rate, both to get away from dependence on coal and to absorb its production. In 2023, China built more than 216 gigawatts of photovoltaic panels, more than the entire capacity in the US.
India, accounting for 9.1 per cent of China’s solar module export value, is also a key buyer of China’s solar modules. Despite the growing market size, the industry is not without challenges.
Construction of a photovoltaic panel at the Eco Green Energy factory in Nantong, China, Thursday, July 4, 2024. RAUL ARIANO FOR LE MONDE It was the solar panel industry's dependence on coal – despite the fact that coal is promoted everywhere as essential to the move away from fossil fuels – that gave China its initial advantage.
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