Are Chinese-manufactured solar panels putting up in European warehouses?

Chinese-manufactured solar photovoltaic (PV) panels are piling up in European warehouses, with Rystad Energy forecasting 100 GWdc of solar capacity in storage by the end of 2023.

How many Chinese solar modules are there in Europe?

There are currently over 40GW of Chinese-made solar modules in storage across Europe with a cumulative value of around €7 billion (US$7.8 billion).

Why are Chinese solar panels so popular in Europe?

As global PV supply has concentrated in China over recent years – stemming from polysilicon production- – Chinese manufacturers have been able to lower prices and dominate the market despite Europe’s goals to establish a domestic manufacturing base.

Will European solar panels keep up with the growth of imported solar panels?

These goals include a target for 30 GWdc of European manufacturing along the entire value chain by 2025 and 40% of installed solar PV being manufactured within the continent by 2030. Despite these ambitious goals, between 2019 and 2022, locally-made modules could not keep pace with the growth of imported panels.

When will European Solar supply chain leaders buy European solar panels?

Although efforts are underway to build a reliable solar supply chain in Europe, the need for panels now means leaders cannot wait until 2025 or later to buy European. Marius Mordal Bakke, senior supply chain analyst, Rystad Energy

How much money is spent on Chinese solar panels?

An overwhelming €18.5bn, equal to 91% of all PV import expenditure, was spent on Chinese products, as volatile panel prices impacted buying decisions, the research has found.