China’s solar panel exports top $51 billion with 80 percent growth – WORLD

China’s solar panel exports top $51 billion, up 80 percentAgainst the background of instability in the global economy and trade in 2022, electric vehicles, photovoltaic products and lithium batteries have become new growth points for China’s exports.Against the background of instability in the global economy and trade in 2022, electric vehicles, photovoltaic products and lithium batteries have become new growth points for China’s exports. According to information provided by the China Photovoltaic Industry Association (CPIA), the country’s total exports of photovoltaic products reached $51.25 billion last year. This figure has increased by 80 percent from $28.4 billion in 2021.
In terms of end product components of the photovoltaic industry chain, the export volume and export volume of photovoltaic modules hit a record high last year. Europe, which accounts for approximately 55 percent of PV module exports, is China’s most important export market, up 10.9 percent from the previous year. As a transit point for the export of photovoltaic modules in Europe, the Netherlands holds the leading position in the Chinese export segment of photovoltaic modules.

The huge increase in demand in the European market is due to the conflict between Russia and Ukraine and fears of rising energy prices, which makes the plan for energy independence more urgent than ever.

According to statistics from the European Photovoltaic Industry Association (EPIA), new installed photovoltaic capacity in the EU-27 increased by 47 percent annually in 2022, more than double the 2020 figure.