Europe Imports $35.77 Billion Solar Panels – And They Still Have an Energy Crisis – Is It Up Because of That?

Essay by Eric Worrall

According to the Global Times, the Communist Party’s mouthpiece, up to 50% of China’s solar panel production this year will be purchased by Europe, in a desperate attempt to displace Russian gas imports.

China’s demand for solar panels soars in Europe amid energy crisis, green transition

Europe accounts for 50% of China’s PV exports by 2022 amid energy crisis

By GT . staff reporters Published: October 23, 2022 09:04 PM

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China insiders say the EU is likely to account for up to 50% of China’s total PV exports this year.

Xu Aihua, deputy head of the Silicon Industry Department of the China Nonferrous Metals Industry Association, told the Global Times on Sunday that the rising demand for solar panels reflects geopolitical changes in China. Europe and the region’s green promotion.

Exports of PV modules have increased sharply. From January to August, China’s exports totaled $35.77 billion in value, generating 100 gigawatts of electricity. Both exceed the full year of 2021, data from the China Photovoltaic Industry Association said.

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These figures are reflected in the performance of domestic PV companies. For example, Tongwei Group on Friday said its revenue for the first three quarters reached 102.084 billion yuan ($14.09 billion), up 118.6% year-on-year.

As of the end of the third quarter, Tongwei’s global market share exceeded 25%, making it the world’s largest polysilicon manufacturer, according to media reports.

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Read more: https://www.globaltimes.cn/page/20210/1277756.shtml

Does anyone really believe that $35 billion spent on solar panels will make a significant difference to Europe’s energy crisis?

If solar panels are any good for solving energy shortages, China will keep the panels to itself – China is currently experiencing energy insecurity. Chinese Premier Xi Jinping is well understood, he recently stated that he has no plans to give up fossil fuels until renewable energy is capable of providing energy security..

The problem with trying to use renewable energy to solve the energy security crisis is obvious, except for the politicians in charge of Europe.

Solar panels do not work at night, so a large amount of energy storage is required to maintain warmth on cold nights. Wind also tends to die at night.

Solar power during the day in Europe’s winter isn’t much better than it is at night – Northern Europe in particular sees very little sun in winter. Southern Europe also has prolonged bad weather, and sometimes snow in winter.

No matter how many solar panels and wind turbines are deployed, there is still a need for fossil fuel redundancy – more fossil fuel capacity than Europe can currently access.