Renewable Energy Production Slows down due to Lack of Transformers
China Holds 80 Percent Of Solar Energy Production In 2024
By Shubhendra Anand , 06 June, 2024
Solar energy sources are gaining momentum with the progress of the clean energy transition. The transformation in the environment seeks renewables in the place of fossil fuels. Chinese renewable development increased with solar panels in 2024. China is the leading country to contribute towards the clean energy transition with the help of solar energy. China has built the maximum number of solar panels compared to other nations. The survey conducted in 2204 reveals that China is responsible for 80 percent of global solar panel supply chains in 2024.
According to data about 2023 solar panel development, solar energy is reported to have more than two-thirds of renewable energy globally. Asia leads the nations in this solar energy growth, the European Union and the United States. According to a survey, China will be the solar energy hub in 2024. It is reported that China's capacity for solar energy is triple that of the United States. Chinese solar energy records a double capacity from the European Union in 2024. However, China controls 80 percent of the global solar supply chain in 2024. Recent developments and news from such research have proven China's control over the supply chain of solar panels. China initially installed around 393 gigawatts of solar panels, followed by the European Union and the United States. European Union solar panel installation is at 205, and the United States solar panel installation is at 113 gigawatts. However, the solar panel installation has been recorded till 2022, and China leads it in quantity.
Chinese solar energy sector controls the production of solar panels globally by 80 percent in 2024. However, China has created multiple jobs, reporting up to 2.76 million in the solar industry. Therefore, China is expected to reach its solar energy production targets 2024. It was targeted to be achieved by 2030. However, the Chinese energy industry's prompt development in solar energy production led China to be six years ahead of the energy schedule.
China Controls 80% Solar Energy Production in 2024
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Shubhendra Anand
Head Research
