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Does Europe's solar backbone run through China?

As the EU leans into its ambitious climate goals, solar energy has become the poster child of the energy transition. On the surface, it appears to be a success story in the global race toward decarbonization. But peel back the layers, and a more troubling picture emerges: Europe’s solar backbone increasingly runs through China.

Does China have a solar power market?

In contrast, China charted a deliberate industrial course, pouring more than $50 billion into scaling its solar PV capacity—ten times more than all EU countries combined. It vertically integrated its supply chains, slashed costs through massive economies of scale, and captured the market.

How much solar power does China have in 2023?

China added almost twice as much utility-scale solar and wind power capacity in 2023 than in any other year. By the first quarter of 2024, China’s total utility-scale solar and wind capacity reached 758 GW, though data from China Electricity Council put the total capacity, including distributed solar, at 1,120 GW.

How big is China's solar & wind power capacity?

Wind and solar now account for 37% of the total power capacity in the country, an 8% increase from 2022, and widely expected to surpass coal capacity, which is 39% of the total right now, in 2024. Cumulative annual utility-scale solar & wind power capacity in China, in gigawatts (GW)

Is Europe reviving its solar ecosystem?

It is the launchpad behind ventures such as H2 Green Steel and Northvolt, and is now betting big on reviving sovereignty of Europe’s solar ecosystem. Europe’s fall from solar manufacturing grace wasn’t due to a lack of innovation. “Europe was leading because market demand and technology leadership coincided,” Sanz explains.

How many mega wind and solar bases are there in China?

The first wave of "mega wind and solar bases" was announced in 2021 and spanned across 19 provinces. Most of the 97 GW in this first wave began operating in 2023 as scheduled, accounting for a third of China’s newly-operating capacity, pointing to a promising future for the second and third waves.