The value of photovoltaic products exported by China hit a record in the first 10 months of 2023, with industry experts saying the momentum will persist through the year, buoyed by higher demand am.
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AI Customer ServiceThe value of photovoltaic products exported by China hit a record in the first 10 months of 2023, with industry experts saying the momentum will persist through the year, buoyed by higher demand amid a green energy transition worldwide.
The export value, which includes photovoltaic products such as silicon wafers, cells and modules, reached about $43 billion during the first 10 months, the China Photovoltaic Industry Association said on Friday.
According to Tan Youru, an analyst at BloombergNEF, China exported 212 GW of solar cells and modules in the first 10 months of 2023, some 19 percent more than exports in the whole of 2022. While the value of solar product exports from China was flat in the third quarter, volumes rose month-on-month, thanks to lower module prices, he said.
The European Union was the biggest destination for China's PV exports in 2022, buying nearly $23 billion worth of products, up 113 percent year-on-year. This is equivalent to about 84 GW of modules, more than half of China's total module exports in 2022.
With a total over the last 12 months of 19 GW, Brazil is the largest single destination for China’s solar module exports outside of Europe. Solar cells, which are unassembled parts that make up solar panels, made up the remaining 10% of China’s solar exports by value ($2.5 bn).
Solar cells, which are unassembled parts that make up solar panels, made up the remaining 10% of China’s solar exports by value ($2.5 bn). The main export destinations for solar cells were Türkiye (33%), India (17%), Cambodia (15%), Thailand (10%) and South Korea (4%). The remainder of the report analyses exports of assembled modules only.
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