What’s new: China’s exports of photovoltaic products surged 80.3% to a record in 2022 despite rising competition and growing trade frictions.
Total exports of silicon wafers, cells and modules reached $51.3 billion, Wang Bohua, chairman of the China Photovoltaic Industry Association, said Thursday at an event.
Solar modules accounted for the biggest part of the exports with a total value of $42.4 billion, up nearly 70% from a year ago, according to Wang.
Europe, affected by an energy crunch following Russia’s invasion of Ukraine a year ago, was the largest and fastest-growing market for China’s solar products, taking up 55% of exports.
The context: China’s solar manufacturers face greater competition abroad as other countries step up efforts to develop domestic solar industries, Wang said. Growing trade restrictions adopted by U.S. and European authorities also create headwinds for Chinese solar exports’ future growth, he said.
U.S. Customs detained more than 3 gigawatts of Chinese solar module exports under a forced labor law, Wang said.
The global solar market is expected to continue expanding in 2023 amid governments’ push for clean energy. Worldwide installed capacity of solar power generation is expected to reach 280–330 gigawatts, up 20% to 40% from 2022, according to the trade group.
China will remain the world’s largest solar power market with newly added capacity expected to total 95–120 gigawatts this year, the association estimated.
China had 392.6 gigawatts of solar installed at the end of last year, according to the association. New additions totaled 87.4 gigawatts last year, a record high.
Contact reporter Han Wei (weihan@caixin.com) and editor Bob Simison (bob.simsion@caixin.com)
Get our weekly free Must-Read newsletter.
