Monteng Investment Leader Photovoltaic Panel

Why did China promote the solar PV industry?

The solar PV industry (as well as wind power) was supported and promoted with the explicit aim to create a leader in the global renewable energy market and to export equipment made in China to the promising solar markets in Europe and in USA. China’s government wanted to take its export-oriented, “factory of the world” economy to the next level.

Will Tongwei build solar panels in Chengdu?

Tongwei intends to build solar cell and panel plants in its home city of Chengdu with a total fixed asset investment of CNY10.5 billion (USD1.5 billion), it said in a statement late yesterday.

Are solar panels on the verge of an inflection point?

The hothouse atmosphere of China’s industry, meanwhile, has encouraged manufacturers to drive down costs. Measured per watt of output, the average price of panels has plunged 91% since 2010. Solar optimists believe developments such as these might leave the world on the verge of an inflection point.

How do financial incentives work for solar companies?

Financial incentives came in two different forms: market-based tools to spur investment into the new strategic industry, and access to credit when necessary. When the financial crisis hit, the China Development Bank (CDB) made $43.2 billion available to 15 solar companies in 2010 which supported them despite global uncertainty.

How can China grow a domestic solar market?

Demand-side policies are imperative for growing a domestic solar market and the Chinese government has used the past two five-year plans and concomitant plans to set capacity targets, carbon intensity targets, and a target of getting 15% of its energy from non-fossil sources by 2020.

Why did Europe start looking at the domestic solar market?

Europe and the US imposed tariffs on imports from China and the local industrial landscape experienced a glut of solar PV companies, so the country ultimately started to look at the domestic market.