China’s solar dominance not an issue
- Admin
- Jul 23, 2024
- 1 min read
China produces most of the world’s solar panels but it should not be concerning as solar panel production cannot become a larger global industry than about $400 billion per year due to their cheap and long-lasting nature. Local content in the solar industry includes project engineering, transport, land, fencing, support structures, wiring, power conditioning, maintenance, substations, transmission, and energy trading. The future solar industry can decarbonize transport, heating, industrial heating, and aviation while reducing dependency on fossil fuels. Solar panels along with wind energy can potentially replace fossil fuels economy-wide. Solar PV is expected to provide 80% of clean electricity with an estimated capacity factor of 18%
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