The value of Chinese solar PV exports during the first half of 2022 more than doubled year-on-year as module shipments surged, according to new government figures.
China exported US$25.9 billion of PV products in H1 2022, an increase of 113%, while module exports jumped 74% to 78.6GW, the country’s Ministry of Industry and Information Technology said this week.
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The country’s polysilicon output during the six months was around 365,000 tonnes, a year-on-year increase of 53%, while wafer production rose 46% to about 152.8GW.
According to the ministry, China’s H1 2022 crystalline silicon module output increased by 54% to 123.6GW.
Publication of the figures follows a report published earlier this month by the International Energy Agency (IEA) that warned of China’s growing PV manufacturing dominance, suggesting that the country’s share of global polysilicon, ingot and wafer production will soon reach almost 95%.
The IEA said China is the most cost-competitive location to manufacture all components of the solar PV supply chain, with costs in the country 10% lower than in India, 20% lower than in the US and 35% lower than in Europe.
Solar investment in China during the first four months of 2022 increased more than 200% year-on-year to US$4.4 billion, figures from the country’s National Energy Administration (NEA) revealed.
The NEA has forecasted that China could install up to 108GW of solar this year, nearly double the 54.88GW deployed last year.