CHF 600 Million in Funds Reserved by Switzerland to Increase 2023 Annual Solar PV Installations
European Solar growth continues its rapid rise in 2023 but network connection problems are causing concern.
The Chinese solar industry is expected to hold more than 80% global share of solar PV module manufacturing till 2026 after investing more than $130 billion into its solar industry in 2023.
Competing countries like the US and India have increased their manufacturing capabilities but cannot compete with China’s investment in new technology and lower production costs. Chinese solar modules are 50% cheaper than those produced in Europe and 65% cheaper than the US.
Modernisation is playing an important role, with leading Chinese manufacturers exploring next-generation technologies, beyond the latest n-type. LONGi recently announced the world record of 33.9% efficiency for a crystalline silicon-perovskite tandem cell.
However, there is an oversupply problem in the market, compounded by the intense competition that’s leading to companies cancelling their expansion plans. This situation will force Chinese module manufacturers to take orders at a loss, reduce capacity, or shut down entirely.
Source: Taiyang News