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As a signatory of the Paris Climate Agreement, China is expected to submit new emissions reduction targets by the end of the year, but with its solar market out of balance, those targets may lack the ambition China previously promised.
In 2018, the Chinese government put a stop to the development of new glass factories, citing pollution and over-capacity issues. This past Tuesday, five major solar companies, including Longi, met with government officials to appeal for the removal of those restrictions for solar glass. Even if these restrictions are lifted, solar glass factories take time to build. Because of this delay, the solar industry could be 20-30% short of the glass it needs until 2022.
Looking Forward: Solar executives fear that this imbalance in supply and demand may scare solar power producers away from the technology needed to reach China’s goals. Charles Jiang, general manager of supply chain management at Longi, explains,
“if solar power generators see solar projects as uneconomical, they will delay investing in new projects and that will drag down solar demand. Solar power plant profits will drop below acceptable levels without government subsidies if glass makers go on to push up the costs.”
Companies also worry that the still uncertain results of the U.S. presidential election could influence the market value of the solar industry. The Chinese solar industry would benefit from a higher demand for green energy in the U.S., which Democratic candidate Joe Biden has emphasized the need for in his platform. The impact of American politics on the Chinese solar industry was in full swing on Wednesday when solar glass stocks plummeted in the absence of a “blue wave” in the U.S. Those stocks rose on Thursday as a Biden presidency and a greener agenda became more likely.
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As more people around the nation are taking to the roads and skies for their vaccinated vacations, one car rental company is making it easier for folks to not only travel in style, but travel green. Hertz has announced that it will be purchasing 100,000 Tesla electric vehicles by the end of 2022 alongside an […]
By Ashira Morris, ODP Staff Writer Last year, the average American household experienced eight hours without power, as storms hammered electrical systems built with less erratic climate conditions in mind. That average outage time is double what it was five years ago. But only looking at the average obscures the experience of people who lived […]
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