Does China's photovoltaic industry need a monopoly?

REUTERS/Stringer Aug 24 (Reuters) - China's industry ministry issued a notice on Wednesday to promote and optimise the development of the country's photovoltaic industry, warning against market monopolies and encouraging development of power and storage projects.

How big is China's solar industry?

“China’s share in all the key manufacturing stages of solar panels exceeds 80% today, according to the report, and for key elements including polysilicon and wafers, this is set to rise to more than 95% in the coming years, based on current manufacturing capacity under construction.”

Which country uses the most solar power in 2021?

As well as being the biggest maker of solar products, China has also become one of the world’s biggest users of solar power, having installed close to 55 gigawatts (GW) of new photovoltaic power in 2021. And even more is being added this year.

Will China add more solar power in 2022?

In February, Wang Bohua, honorary chairman of the China Photovoltaic Industry Association (CPIA), predicted that China could add between 83 to 99 gigawatts in new solar capacity each year from 2022 to 2025. That was close to half of the 200 GW expected to be installed globally this year, according to IEA data.

Does China really need more solar power?

China had helped to bring down costs of solar PV all around the world, helping the transition to clean energy, IEA executive director Fatih Birol said. But the world still needs huge annual additions of solar PV capacity, which “need to more than quadruple by 2030 to reach net zero emissions by 2050”, Birol said.

Can solar PV become the most affordable electricity generation technology?

Chinese industrial and innovation policies focused on expanding solar panel production had helped solar PV become the most affordable electricity generation technology in many parts of the world, the agency said.