Development of Chinas Photovoltaic Industry: Stylized Facts, Difficulties, and Prospect

Abstract

With the target to achieve national carbon emission peak levels by 2030 and carbon neutrality by 2060, China has diverted a large portion of its resources on the development of renewable energy. As one of the most important domestic renewable energy industries, the photovoltaic industry grows at a rapid pace over the last decade. The essay illustrates the outlook of the photovoltaic industry in China at current in the perspective of industrial achievements and Chinas position in the global market. Through a comprehensive analysis, the challenges of stagnating core technology, imbalance between surging demand and limited supply as well as the dearth of human capital are highlighted. Aiming at a fully-fledged solar energy market in the future, specific suggestions for PV firms and the government will be given. According to the three problems, expansion strategy is advised for firms: expansion of production scale; expansion of recruitment range; and expansion of technology application. Synchronously, the government is proposed supporting policies including fiscal support, academic support and technological support.