How is China Leading the Solar Power Industry Today?
China is leading the world in many technologies today. One of the most important of these is Solar Power. China has now become the global leader in the world’s largest renewable source- Solar Energy.
Between the year 2008-2013, China’s Solar Panel Industry has dropped the world prices by 80% which is a humongous amount.
According to a market report, China has emerged as a dominating industry in solar power and related manufacturing markets. As per the prediction, it may expand by 13% a year. (Woah! Isn’t that great?)
Earlier, U.S. had the leading title in the solar industry and till date, it holds many of the related world’s patents. One of the major reasons for a decline in its ranking is that it can no longer cope up with the demand of solar panels in the U.S. alone.
Every second Solar Panel made by Chinese Manufacturers is ordered by a person overseas.
Many of the U.S. manufacturers and solar power experts still debate how China has become the world’s largest solar power producer today.
Here’s how China is leading the Solar Power Industry today
Considering the timeline, China’s reign in Solar Industry started to gain momentum in the 1990s. The Germans convinced China to build and manufacture Solar Rooftop panels meeting German Industry demand. They basically went with it and today they have emerged as the top leader in Solar Industry.
Pioneering Chinese Companies Envisioned Solar Industry in New Light
While China was producing Solar Panels for Germany and other countries, some native pioneering companies saw the potential solar industry had to generate income. Thus, they started hiring more solar experts and bought existing solar companies.
Chinese Govt. Policies played a major role
Under China’s five-year plan, Solar Energy is one of the seven categories in business which receives special tax incentives and loans. China’s Govt. invited others from around the world to move to China where they could enjoy tax rebates and cheap labor.
It further increases employment for China’s population and enriched its economy.
Furthermore, to make Solar panels we require large semi-automated industries. China’s Govt. helped to make it effective and that made Solar even more attractive to China.
Largest Installed Capacity of Solar Power
China is the leading economy for producing solar panels. It is also the largest installed capacity of solar power.
FYI, China has already put in 20 GW in the first half of this year while the entire U.S. capacity is equivalent to 31 GW.
Plans for Creation of a Global Grid
Liu Zhenya is the former Chairman of State Grid Corporation, China’s state-owned power company. He also shared his plans for the creation of a Global Grid in October 2016. This Global Power grid is said to transmit 80% of the total world’s renewable energy by 2050.
Global Energy Interconnection Development and Cooperation Organization (GEIDCO) is the name given to this ambitious solar project.
Liu shared three reasons to justify his mission which is below mentioned:
- Expanding energy demands from across the globe will soon deplete coal, oil and natural gas by next 110 years.
- Environmental pollution arising from these fossil fuels is a serious concern and a safety hazard.
- World leaders require a mechanism to cut the greenhouse gas emissions by half to prevent 4℃ rises in our planet’s average temperature.
This kind of dedication towards Solar Energy will as a result, put hefty pressure on other countries to become energy-conscious as well. Recently, China built a solar power array that resembles a Panda.
China has adopted and is actively promoting cleaner energy with strong reigns over solar and wind energy. Furthermore, they have slashed the prices of solar panels making it easier for people to move towards a greener environment.
At ANETHIC, we highly appreciate the efforts of Chinese Govt and urge you to take a step forward by adopting Solar Energy and take the initiative today. You can start your solar energy journey with our range of energy-conscious products like our All-in-one Solar Street Light LightGoGo 4.
For any additional assistance, you can contact our solar experts.
“One Small Step in the right direction goes a long way to make the world a better place.”