How China’s overproduction is changing the solar industry
In recent years, China has flooded the global market with heavy surplus of solar panels. These once-bachelor’s energy solutions have become so universal that people are now using them as a garden fence in countries like Germany and Netherlands. The solar panel industry, which is responsible for 80% of the world’s solar panel production, is struggling with the results of this oversuply. Let us delay the dynamics of this solar panel glute and its impact on the industry.
Solar panel boom and its results
- Additional supply and fall prices:
- The supply of the solar panel is estimated to reach 1,100 gigawatts by the end of this year, three -fold increase compared to demand.
- Prices on the spot market have already been halved in 2023, and experts predict a drop of 40% by 2028.
- China’s dominance in the solar panel manufacturing has created oversupply conditions, making it challenging for manufacturers outside China to compete effectively.
- Solar panel in the form of garden fence:
- Solar panels are now being rebuilt as a garden fence in Germany and Netherlands.
- By connecting solar panels to the fence, the owners of the house can use solar energy without the need for installation of expensive roof.
- This trend is also catching in Britain, North America and Australia.
- Global implications:
- Cheap Chinese solar panels have far -reaching consequences of oversuply.
- American Treasury Secretary Janet Yellen has expressed concern about the spillover effects of this extra capacity on global markets.
- During his recent visit to China, Jellen emphasized the need for fair trade practices and highlighted the economic impact of Chinese industrial overcapacea.
Navigate the solar landscape
As the solar industry struggles with this oversuply, manufacturers worldwide must be compatible with the changing landscape. Here are some major takeaets:
- Diversification and innovation:
- Policy and Regulation:
- Cooperation and partnership:
- International cooperation can help balance the supply and demand.
- The partnership between manufacturers, researchers and policy makers can run innovation and create a more flexible solar industry.
conclusion
China’s solar panel glute is a two -edged sword. While it has democratized solar energy access, it has also disrupted the global market. As the industry wants balance, stakeholders should work together to ensure a permanent and rich solar future.
Source:
- Commercial insider
- NBC News
Disclaimer: The use of videoreddit.edu.vn and the content generated on this website is at your risk. The platform is not responsible for the use that users can do of the material presented here. Although we make every effort to ensure that the information provided is accurate and appropriate, we do not guarantee the accuracy, perfection or relevance of the material.
The website is not responsible for any damage, damage or damage that may arise from the use of this site, which is involved, but is not limited to direct, indirect, contingent, resulting or punitive loss. Users are responsible for their own functions and compliance with all applicable laws and regulations.
In addition, videoredit.edu.vn is not responsible for the opinion expressed by user-related materials or users. We reserve the right to remove any material that we violate our policies or applied laws without prior notice.