Solar PV deployments increased by 85% year-on-year in 2023, more than any other renewable technology in a year which saw clean energy deployments curb the rise in carbon emissions.
The proposal would have likely been consequential for the solar PV industry, which is plagued by allegations of forced labour in the production of polysilicon and other upstream components.
Major Chinese polysilicon producer Daqo New Energy saw both production and sales of polysilicon increase by around 50% in 2023 compared with 2022, whilst the dramatic drop in polysilicon prices slashed revenues from US$4.6 billion to US$2.3 billion over the same period.