The Chinese government has made a vow to deal with an issue of overproduction and competition in the solar PV industry.
Industry Issues in China
China has promised to address issues with oversupply in the solar photovoltaic industry in order to reduce the excessive competition that it has led to. Li Lencheng, the country’s Minister for Industry and IT, addressed industry representatives at an event on the 3rd of July, with concerns about “disorderly low-price competition” and a warning that the industry must adhere to proper governance. He emphasised the importance of quality products and sustainable development.
This latest announcement is not the first time that the Industry and Information Technology Ministry has tried to reduce overproduction in the solar PV industry in China. This came after President Xi Jinping raised concerns about the excess of production in the industry. Representatives from the industry responded to the minister’s comments by explaining the issues they encountered in the process of production and making suggestions for helpful policies.
The issue with the overproduction of solar PV products in China is unlikely to affect the UK market, where prices for solar PV products remain stable.
Solar Panel Production in China
In the last ten years, China has emerged as the world’s biggest manufacturer of solar PV products. It has an 80% global market share of the whole manufacturing process. This has helped reduce the cost of installation for Chinese people. Renewable energy from wind and solar now provides more power than coal in China. In addition, the exporting of solar PV products is close to a value of 50 billion a year.
In response to the domination of China in the manufacture of solar PV products, countries in Europe have instead turned their attention to being leaders in their maintenance and installation. If you’re considering solar panels Cheltenham, then get in touch with established installers such as https://gsmlimited.com/services/solar-panels/cheltenham/, who will be able to assist you with this.
China is now looking to create a healthier and more sustainable level of production in the solar PV industry.