According to a report released today by the International Energy Agency (IEA), China maintained its stronghold on the global investment landscape in photovoltaic solar module manufacturing, accounting for 80% of global investment in 2023.
The IEA’s findings suggest that China’s leadership in this sector is unlikely to change in the near future.
The report paints an optimistic picture of the capacity of factories worldwide to produce solar installations necessary to achieve climate goals by 2030.
However, it also highlights a concerning trend in terms of geopolitical dependence, as China accounted for three-quarters of investment in clean technology production in 2023, including photovoltaics, wind, green hydrogen, and heat pumps.
While China’s share slightly decreased from 85% in 2022, the country’s dominance remains significant. This shift is attributed to substantial increases in investment recorded globally, reaching $200 billion in 2023.
Notably, the United States and the European Union (EU) made significant progress, particularly in battery production, with both regions tripling their 2022 investment values.
The report underscores the need for diversification and strategic investments outside of China to mitigate geopolitical risks and ensure global energy security.
Despite advancements in other regions, China’s continued dominance in solar module manufacturing highlights the urgency for international collaboration and innovation to build a resilient and sustainable clean energy ecosystem.
