(Image credit: GreenerIdeal)
It goes without saying, the European solar market is experiencing an industry boom.
Solar panels imported from and created in China have provided cheaper prices of solar PV and subsequently fuelled Solar’s installation boom across Europe.
The current solar boom is allowing the European Union (EU) to deliver on its green promises.
Overall, more solar panels have been integrated into Europe’s power grids between 2000 and 2020 than before the beginning of 2000. By 2030, the number of installed solar PVs should triple.
Overall, Chinese solar imports have given the EU hope after the current energy crisis…
But, is this hope merely a mirage?
Has the renewable energy transition shifted from one supposed to make Europe more energy independent to one more dependent on Chinese imports?
Currently, 95% of all solar modules installed in Europe are imported from China.
Due to the countries near monopoly on the industry, China can set unbeatable solar PV prices.
The issues that arise from apparent Chinese control of the solar industry include:
- Employment and economic security.
- European PV companies calling for restrictions on imports.
- As mentioned earlier, a shift in energy dependency, rather than a move to independence.
Firstly, the fear around increased Chinese imports crushing Europe’s renewable economy and employment is a false one.
As the solar industry continues to boom, jobs will need to be created to help manage rising demand. Economic security and environmental targets also remain in place.
What Europe is facing now is a repeat of what happened in 2010; where European countries restricted the arrival of Chinese solar modules after struggling European solar PV producers campaigned for restrictions on imports.
Six years later restrictions were lifted, and installations of solar PV saw a steep rise. The cost of Chinese solar PV is ultimately too much of an economic opportunity to turn down.
This issue around energy dependency, rather than independency, is a big one. The topic raises the question, ‘Could China stop its imports of solar PV similar to what Russia did with its supply of gas?’
The answer…
It is unlikely. The economic and environmental arguments would not make sense.
At the moment, the current number of modules stored across Europe could supply a year’s worth of solar installations.
By the time these are used, Europe would have turned to home grown solar PV.
Ultimately, China would feel the negative effects of climate change and experience a big dip in their economy.
The European solar boom is fuelled by Chinese imports but both markets work together to drive both markets and reach environmental targets.
For more interviews from Solar&StorageXtra and to keep up to date with all NEW content, subscribe to the Solar&StorageXtra YouTube channel and Newsletter!
To enquire about interviews, submit news and press releases please contact our Editor, Regan Slaymaker, regan.slaymaker@terrapinn.com. For sponsorship and exhibition enquires please contact Tom Moon, tom.moon@terrapinn.com.
