Backed by strong government support and massive private investment, China’s solar industry has become a global leader, but it now faces challenges like foreign tariffs and intense domestic price competition.
Officials are meeting in Baku next month for the COP29 summit, hoping to agree on new finance targets to help developing countries respond to climate change, including ditching fossil fuels. Last year, countries agreed to triple global installed renewable energy capacity by 2030. China is installing almost twice as much solar and wind power as every other country combined. And it dominates the market. It makes eight out of every 10 solar panels and controls 80 percent of every stage of the manufacturing process.
