China’s solar panel domestic industry is in upheaval. PHOTO: NYTIMES CHANGSHA – Over the past 15 years, China has come to dominate the global market for solar energy. Nearly every solar panel on the planet is made by a Chinese company. Even the equipment to manufacture solar panels is made almost entirely in China.
Roughly one of every five panels installed worldwide in 2022 was fixed atop a Chinese home or business. One of every five panels installed in the world in 2022 was fixed atop a Chinese home or business. Source: Bloomberg For Li, the decision was financial.
Fishman, an energy analyst at the Lantau Group, an economic consultancy firm in Shanghai, was keen to meet with developers in Shandong to understand how China is developing extensive rooftop solar installations at such a remarkable pace.
China’s buildings and rooftops have the potential to host more than 1 terawatt of solar power capacity, almost the same size as the entire existing global industry, according to the manufacturer.
Most of that rooftop solar has been added in the past two years, as China offered support for local governments to boost installations, and raised power rates to businesses, making generating their own electricity more attractive.
Technicians check solar panels in Zhoushan, Zhejiang province. [Photo by YAO FENG/FOR CHINA DAILY] A report by the International Energy Agency, or IEA, on the future of renewable energy production has pinpointed China, and in particular its solar power capabilities, as leading the way for the world in the years to come.
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