China''s Photovoltaic & Storage Exports Achieve Record Growth
Chinese solar exports at an all-time high despite drop in revenue. China''s 2023 solar exports hit a record high with over 40% growth for all equipment. The surge was dominated by
However, even if trade spats continue to shrink China's share of the solar component markets in North America and Europe, fast-growing economies such as The Philippines, Vietnam, Thailand, Malaysia and South Africa look set to ensure the overall trajectory of China's solar module exports remains higher.
From 2018 through 2022, solar parts were the dominant export earner among China's clean energy suite, but since then a drop-off in solar sales as key markets hit saturation point has meant that batteries are now in the top spot.
The cumulative shipment to the Asia-Pacific market was about 68.11GW, an increase of 26% compared to 53.93 GW in the same period of 2023. Among the countries in this region, Pakistan had the highest share of module shipments, importing around 16.91GW of PV modules, up 127% from 7.47GW in the same period in 2023.
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