Sales of Chinese solar cells in Europe surge by 138%!

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According to a report by Reference News on October 7, China’s exports of solar equipment to Europe have performed exceptionally well. According to calculations by the newspaper based on customs data, in the first eight months of this year, China’s exports of solar cells to the EU surged by about 138% on a year-on-year basis. Meanwhile, total solar cell exports in the first 8 months of this year increased by 91.2%. Reports suggest that as concerns over a global economic recession grow, China’s solar industry appears to be one of the shining spots in exports for the world’s second-largest economy. In February, workers at a photovoltaic company in the Ganyu Economic Development Zone of Lianyungang City, Jiangsu Province, were busy manufacturing solar photovoltaic panels for export. The report also said that as the impact of the conflict in Ukraine has led to soaring energy prices, businesses and households are rushing to install rooftop solar panels, resulting in a growing demand in Europe for related Chinese exports. Qin Yan, an energy analyst at S&P Global in Norway, said that with soaring energy prices, she has noticed a strong interest in installing rooftop solar systems among people, including her friends. Qin Yan said, “As a professional in the energy sector, I pay attention to the electricity prices displayed on the screen every day, and I have analyzed the cost-benefit of installing rooftop solar systems at my home.” ” Qin Yan said that she placed the order in May this year, but the solar panel supplier mentioned that they are waiting for materials from China as well as skilled workers. Reports say that according to calculations by the South China Morning Post, China’s exports of solar cells to Norway surged by 79.3% on a year-on-year basis in the first eight months of this year. Inno Investment Bank has a broad portfolio in this industry. A senior official at the company said that due to ongoing bottlenecks in solar cell manufacturing, the products are sold out as soon as they are produced, with most buyers being overseas customers. Qin Yan said that, against the backdrop of the conflict in Ukraine, although some governments will provide subsidies to help families cover their energy bills, electricity costs for European households will still be two to three times higher than they were in 2019–2020. Reports say that in order to address the market disruptions caused by the conflict in Ukraine, the EU proposed an energy supply adjustment plan earlier this year. This plan aims to diversify energy supplies and accelerate the decarbonization of the EU economy, with a particular focus on promoting the development of renewable energy sources. 　　(Source: Reference News Network)