Hongkong media report: Chinese solar cells sell well in European
The reports say China's solar energy appears to be one of the export bright spots for the world's second-largest economy.
The report also said that European demand for China-related exports has grown as energy prices soared due to the impact of the conflict in Ukraine, and businesses and households scrambled to install rooftop solar panels.
Qin Yan, an energy analyst at Refinitiv in Norway, said that as energy prices skyrocketed, she saw a strong interest in installing rooftop solar, including her friends.
Qin Yan said: "As a professional in the energy field, I always pay attention to the electricity price displayed on the screen every day, and analyze the cost-effectiveness of installing rooftop solar equipment at home."
Qin Yan said she placed the order in May this year, but the solar panel supplier said they were waiting for materials from China and skilled workers.
According to calculations by the South China Morning Post, China's solar cell exports to Norway soared by 79.3% year-on-year in the first eight months of this year.
Inno Investment Bank has an extensive portfolio in this industry. A person in charge of the bank said that because there are still bottlenecks in the manufacture of solar cells, the products were sold out as soon as they were produced, and most of them were overseas buyers.
Qin Yan said that in the context of the Ukraine conflict, European households' electricity bills will still be two to three times higher than in 2019-20, although some countries will provide subsidies to help households pay their energy bills.
In response to market disruptions caused by the conflict in Ukraine, the European Union proposed an energy supply adjustment plan earlier this year, which aims to diversify energy supplies and speed up the process of decarbonizing the bloc’s economy, with a particular focus on promoting the development of renewable energy, the report said Europe's accelerated transition to clean energy will create potential opportunities for Chinese solar and wind equipment makers.
According to the International Energy Agency, China accounts for more than 80% of all stages of solar panel manufacturing.
