China's photovoltaic (PV) sector maintained strong growth momentum from January to October, with exports hitting a record high amid surging demand overseas, contributing to the global low-carbon energy transition and energy security. In the first 10 months this year, exports of solar panels hit USD44.03 billion, reaching a record high, up 90.3% year-on-year, data revealed at the annual conference of China's PV industry showed. The value of solar panel export increased 85.8% year-on-year. As demand for PV products in Europe climbs, the share of modules exported to European markets now accounts for more than half of the total, and demand from Spain, Germany, and Poland is growing significantly, Wang Bohua, Chairman of the China Photovoltaic Industry Association, said at the conference. The South American market also showed strong growth, especially from Brazil, Wang noted.
Robust market demand drove strong growth in solar panels manufacturing. In the first three quarters, the output of four major products – polysilicon, silicon wafers, cells and modules – exceeded last year's total, with year-on-year growth of more than 40%. “The strong growth of the domestic solar power sector will greatly contribute to the global low-carbon and green transformation, while helping global energy security,” Lin Boqiang, Director of the China Center for Energy Economics Research at Xiamen University, told the Global Times.
China's LONGi Green Energy Technology Co has contributed to the green football World Cup in Qatar, providing all the modules of an 800-megawatt solar farm in al-Kharsaah, west of Doha. The solar plant is Qatar's first non-fossil-fuel power plant, marking a milestone in the country's new energy development. In the first three quarters, the company achieved an operating revenue of CNY87.04 billion, up 54.85% year-on-year, while net profits rose 45.26% to CNY10.98 billion.
In the January to October period, China's new PV installations grew 98.7% year-on-year, the Global Times reports.
