The growth in solar exports from China is helping to meet growing demand for clean, affordable power, driven by markets like Europe and South Africa that are aiming to increase energy security. Solar power is expected to be the largest source of electricity capacity by 2027 and will be key to rapidly reducing emissions across the power sector.
China has at least 80% of the global market share in solar manufacturing capacity, making Chinese exports an important dataset for tracking the clean energy transition. In the first half of 2023, exports of solar panels from China grew by 34%, with 114 GW shipped worldwide, compared to 85 GW in the same period last year.
China hopes to harness emerging industries like solar power, which Mr. Xi likes to describe as “new productive forces,” to re-energize an economy that has slowed for more than a decade. The emphasis on solar power is the latest installment in a two-decade program to make China less dependent on energy imports.
Outside of Europe, South Africa was the country with the largest absolute increase in imported solar panels from China. Module exports to South Africa saw rapid growth in 2023, with 3.4 GW exported to the country in the first six months of 2023, an increase of 438% (+2.7 GW) compared to the same period last year (0.6 GW).
Exports of solar modules from China to the rest of the world have increased 34% year-on-year, growing from 85 GW in the first half of 2022 to 114 GW in the same period this year, which is almost as much as the total exported over the whole of 2021.
China unleashed the full might of its solar energy industry last year. It installed more solar panels than the United States has in its history. It cut the wholesale price of panels it sells by nearly half. And its exports of fully assembled solar panels climbed 38 percent while its exports of key components almost doubled.
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China Energy Data 2023
to the Asian Development Bank and Energy Foundation China. He has undertaken over thirty national energy policy research projects. In 1987, his "National Energy Policy Research" project won the first prize in China''s National Science and Technology Progress Award ceremony. He is the author of "China Energy," "Energy Dictionary," and
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Solar
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China unleashed the full might of its solar energy industry last year. It installed more solar panels than the United States has in its history.
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