The aggressive capacity expansion has already forced solar panel prices down dramatically this year and is prompting concern among US producers that are banking on a government-backed domestic manufacturing boom.
The United States and India combined have announced more than 200GW of module capacity plans since 2022, Wood Mackenzie said.
"Despite strong government initiatives for developing local manufacturing in overseas markets, China will still dominate the global solar supply chain and continue to widen the technology and cost gap with competitors," Huaiyan Sun, the author of the report, said in a statement.
On April 4-5, 2025, Samarkand will host the first Samarkand International Climate Forum, bringing together world leaders, politicians, experts and activists to discuss pressing climate challenges. One of the key sessions of the forum will be “Sustainable Cities and Climate Challenges: Integrated Planning and Management”, dedicated to sustainable urban development and adaptation to climate change.
China has a long history of food crises, making food security a top government priority. In the world's second most populous country, threats to food supply also pose risks to social and political stability. China must feed 22 per cent of the global population with only 7 per cent of the world's arable land and limited water resources.