China Faces a Boom in Photovoltaic and Energy Storage Industries

Industrials Author: EqualOcean News, Enoch Gao Editor: Luke Sheehan Nov 19, 2021 02:24 PM (GMT+8)

China's photovoltaic battery component exports grew by nearly 50% in October 2021.

Solar roof

The energy storage industry in China has been an object of close study since the second half of 2021. Over 125 companies have been interviewed with questions regarding energy storage. In accordance with China's carbon neutrality and peak emission goals, more sustainable energy firms emerged. However, existed technical difficulties hindered the progress from joining sustainable energy into the national grid in China. To store this clean energy, therefore, becomes critical.

 Among the energy storage industry in China, photovoltaic technology is one of the most impressive sectors. According to the General Administration of Customs's data in China, the export of solar energy components (photovoltaic batteries mostly) increased 47.9% YoY and reached CNY 19.1 billion in October. The total exports, from January to October, grew 32% compared with the same period in 2020.