China still leads global solar industry

The Chinese government has recently cut solar incentives thus leading to suspension of many new solar projects. Nonetheless, China doesn't want to lose its leading position on global solar energy market and has established International Investment Alliance for Renewable Energy with the main emphasis on solar power.

This alliance will not solely focus on the shipment of new solar modules into new, merging markets but should also help address financing, investment, construction and operation of solar energy projects abroad.

China's energy market is experiencing overcapacity of PV modules which led to major falling of the prices. In this situation Chinese PV manufacturers are basically waiting to see how far prices will fall before deciding the scale of future production.

This overcapacity will also lead to the decrease of solar capacity on global level. The current estimates predict that around 85 GW of newly installed capacity in 2018, which represents notable decline compared to 100 GW of new solar power capacity installed in 2017.

China didn't only focus on importing the solar modules abroad but also took necessary steps to help domestic solar industry and as a result China has very large domestic solar energy market. Domestic solar energy sector may experience slowdown this year but the creation of this new alliance will no doubt mean more Chinese sales abroad.

It is still very difficult to obtain the proper information about the targeted markets but many energy experts believe that EU will become top target of this new International Alliance.

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