General

According to a Hong Kong media report on the 5th, China's export of solar energy equipment to Europe has been brilliant. According to the calculation conducted by the newspaper based on customs data, in the first eight months of this year, China's solar cell exports to the EU surged by about 138% year on year. At the same time, customs data show that the total export of solar cells in the first eight months of this year increased by 91.2%.

According to the report, China's solar energy industry seems to be one of the export highlights of the world's second largest economy at a time when people are increasingly worried about the global economic recession.

The customs data also showed that with the impact of the conflict in Ukraine leading to soaring energy prices, enterprises and families compete to install roof solar panels, and Europe's demand for China's related exports continues to increase.

Qin Yan, an energy analyst of a company in Norway, said that with the soaring energy prices, she found that people, including her friends, showed a strong interest in installing rooftop solar equipment.

Qin Yan said, "As a professional in the energy field, I pay attention to the electricity price displayed on the screen every day and analyze the cost-effectiveness of installing roof solar equipment at home."

Qin Yan said that she placed an order in May this year, but solar panel suppliers said they were waiting for materials from China, as well as technical workers.

According to customs data, in the first eight months of this year, China's solar cell exports to Norway surged 79.3% year on year.

An investment bank has a broad portfolio in the industry. A person in charge of the bank said that as there was still a bottleneck in the manufacturing of solar cells, the products were snapped up as soon as they were produced, and most of them were overseas buyers.

Qin Yan introduced that in the context of the conflict in Ukraine, although some countries will provide subsidies to help families pay their energy bills, the electricity bills of European households will still be two to three times that of 2019-2020.

According to the report, in response to the market chaos caused by the conflict in Ukraine, the EU earlier this year proposed an energy supply adjustment plan, which aims to diversify energy supply, accelerate the decarbonization process of the EU economy, and especially focus on promoting the development of renewable energy.

According to customs data, accelerating Europe's transition to clean energy will create potential opportunities for Chinese solar and wind energy equipment manufacturers.

According to the International Energy Agency, China's share in the manufacturing of solar panels in all stages exceeds 80%.