The 2008 to 2013 drop in China’s solar electric panel industry caused an 80% drop in world prices. Clearly, this indicated China’s importance in the solar industry. Given that China moved from h a tiny rural oriented solar program in the 1990s to being a global leader in the 2000s, the solar industry does depend on the country.
Before China, the US solar industry (inventors of the technology) was a global leader. However, China is now an accomplished competitive in its own right although the US still holds patents. What is evident is that the US solar industry is still failing to recuperate from the plunging prices and thus suffers from a deficiency whereby it is unable to supply more than a third of the rapidly growing local market.
China dominates the industry and expands by 13% annually. China uses unique, complex and interdependent means of solar use in manufacturing that are hard to replicate making sure that the country leads the industry by great strides. However, the US is looking into innovating and cutting costs while nurturing newer technologies in a move to lead the industry by 2020. One of the challenges in the industry is tax credits. One of the moves why China is leading in the industry comes from inviting leading companies from German, Italy, and the US to move production to China where there is cheap labor and they can also avoid paying taxes. This is how the country manages to outdo the US and other competitors.
The Chinese government pumped in as much as USD $47 Billion into the solar industry. After overtaking German in 2015 to be the world’s largest solar producer, China now dominates the solar markets in PV installation. The need for big and fruitful solar industries comes from the need to clean the types of pollution that are significantly observed all over China. Currently, the problem is determining whether china can create a global grid. This is because the country plans to have a global power grid that will transmit 80% renewable energy by 2050. China’s GEIDCO proposal must be carefully reviewed by the UN to determine where other countries fit in the solar industry.
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