China Now the Leading Global Market for Solar Panels
It’s already the world’s leader in making solar panels, so perhaps it shouldn’t come as a shock that China is now also the globe’s biggest market for the energy saving devices.
A new report from GTM research says China looks to hold a quarter of the world’s solar panels this year amid the country’s rabid desire to add as much power as possible, including but not limited to solar. What’s more, countries in the Asia Pacific region account for over half of the world’s solar panels in 2015.
Much of what China is implementing, though, are solar panels in large grids in desolate areas. That is, while some solar panels are being used on rooftops for businesses and residences, a majority of them are in fields and farmlands, built in large numbers and then sold to utilities. These massive solar panel farms are growing rapidly, including those in the Gobi desert.
These installations are spurred by the government’s five-year plan that called for a set amount of solar panels installed, as well as the tax benefits offered by buying and using the energy-savers. Of course, China too is looking to curb its huge pollution problem, and solar energy prevents a worthy solution. As China continues to close coal factories, they need equal energy production replaced and are looking to solar.
China is also now benefitting from the fact they are they buying more of their own country’s productions.
Last week, however, three large Chinese solar panel manufacturers were kicked out of a pact signed with the EU that allowed them to export panels with low tariffs. The European Commission said that three companies were violating an agreement while warning five other producers and stating that dozens were indeed in compliance. European and U.S. producers have warned that as China has mass-produced panels, they are selling excess product to the west at low costs, hurting competing manufacturers.
Still, all around the world installations are expected to grow, including in emerging markets in Latin America, Africa, and the Middle East. Such growth will lead to a ““profound change in the global landscape” for solar project, said analyst Adam James of GTM Research.
The United States, meanwhile, is anticipated to install 8 gigawatts of solar panels this year, which would make up about 14% of the global market. The government is encouraging house-holds to invest in the clean initiative, Australia have already invested heavily in the Solar initiative and solar perth has seen a massive increase in installations. While China is big on solar panels farms, usage in the U.S. meanwhile is predominately on rooftops of homes and businesses.