Monday, June 24, 2024

China drives down value of solar energy growth

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Employees set up photo voltaic panels in a village in Tangshan, Hebei province. ZHANG YONGXIN/FOR CHINA DAY

The huge growth of solar energy in China, mixed with steady innovation and a whole industrial chain, is decreasing manufacturing prices and making new vitality merchandise extra inexpensive around the globe. , specialists say.

This shift advantages the worldwide group, whose photo voltaic capability at the moment falls wanting the demand to satisfy decarbonization objectives. Developing international locations, specifically, want extra superior photo voltaic capability to make electrical energy extra accessible and cost-effective for native individuals and financial actions, they mentioned.

The feedback got here after some Western politicians and media retailers just lately claimed that China was melting extra capability throughout the new vitality sector and inflicting market distortions overseas. by dumping merchandise at low costs, which harms different economies.

“The issues of Western international locations have elevated as a result of fast growth of China’s photo voltaic business, which illustrates the fast evolution of latest vitality sectors within the nation. modifications all through the world, which make of solar energy being one of the economical sources of electrical energy for many international locations and areas around the globe,” mentioned Liu Yiyang, deputy secretary-general of the commerce physique China Photovoltaic Industry Association.

Liu mentioned that the present capability of the photo voltaic business nonetheless falls wanting assembly the wants of the worldwide market, particularly given the massive demand for energy in lots of growing international locations.

In a warehouse in Uzbekistan, Chinese photo voltaic panels are set to energy and supply low cost clear vitality for refugees throughout Asia, guided by the UN Refugee Agency and a Chinese photo voltaic agency, LONGi.

Raouf Mazou, the company’s assistant excessive commissioner for operations, mentioned that Chinese vitality corporations have empowered the company to develop its attain and influence in addressing local weather points and reaching fairness. of vitality for susceptible populations around the globe.

“China’s ample assets, progressive expertise and in depth world relationships will make a major contribution to our work. We stay up for extra fruitful cooperation with the Chinese authorities and corporations in fixing the challenges concerned in displacement that comes from local weather change,” mentioned Mazou.

More than 100 international locations reached agreements on the COP28 local weather change convention late final 12 months that world renewable vitality capability will triple to succeed in greater than 11,000 gigawatts by 2030, with cumulative PV of capability will improve to about 5,457 GW throughout that interval.

According to the evaluation firm Statista, in 2022, the worldwide cumulative photo voltaic PV capability will attain 1,177 GW, which falls wanting the given goal.

“The criticism of some politicians on the surplus photo voltaic capability in China that has led to low prices and impacts the worldwide competitiveness of the business is just not attainable. This rhetoric goals to forestall the commercial growth of China, which has no optimistic results of the worldwide inexperienced revolution. The technological transformation of the worldwide PV business has led to fast value reductions, permitting many international locations, particularly growing ones, to get pleasure from of low cost electrical energy, selling native financial growth, and bridging regional variations,” mentioned Lin Boqiang, head of the China Institute for Studies in Energy Policy at Xiamen University.

“Chinese enterprises are additionally selling the worldwide growth of the PV business via worldwide cooperation and abroad factories, which is facilitating the inexperienced transformation of different international locations of their vitality constructions. Whether for the United States or wherever else on this planet, with out aggressive merchandise from China, it’s tough to think about whether or not the present worldwide confidence in fixing local weather change will stay robust,” mentioned Liu.

Taking Europe for example, a report by the International Energy Agency reveals that, from 2021 to 2023, new installations of photovoltaic and wind energy are estimated to save lots of nearly €100 billion ($107 million) for of electrical energy customers within the European Union.

From 2021-2022, the EU sees new installations of just about 90 GW of photovoltaic and wind energy, changing nearly 10 % (about 230 billion kilowatt-hours) of coal and pure gasoline electrical energy era , which successfully lowers the worth of electrical energy to customers.

CPIA estimates that with out new wind and photo voltaic installations, the typical wholesale electrical energy worth within the EU could be 8 % larger in 2022.

“The fast growth of China’s PV business has deep which means for a lot of growing international locations. It offers a means for growing international locations to beat vitality shortages that cost-effective and scale back dependence on imported fossil fuels within the set up, upkeep, and manufacturing sectors, injecting new vitality into financial development.” Liu mentioned.

Zhu Gongshan, chairman of Golden Concord Holdings Ltd, a significant solar energy agency, mentioned “The PV business is cyclical in nature, influenced by varied components corresponding to market demand, technological modifications , coverage modifications, and business competitors. Currently, the business is present process some cyclical adjustment characterised by fierce competitors, which is an integral side of the market economic system.”



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