The country’s annual spending on green energy overall has increased by more than $180 billion a year since 2019, the International Energy Agency says. “The solar industry is improving over the long term, and the market potential is huge," Royal Group wrote in a document outlining the project last year. Many established Chinese solar companies are warning that the fallout could be grim, with losses or bankruptcies looming. At this rate, Europe’s dependence on Chinese solar is increasing rather than decreasing, said Gunter Erfurt, chief executive of Swiss solar cell and panel manufacturer Meyer Burger. Still, some Chinese industry executives such as Liu Yiyang, deputy secretary-general of the China Photovoltaic Association, are calling for local governments to tap the brakes on green-tech investment.

Source: Wall Street Journal November 13, 2023 06:06 UTC