China’s environmental concerns bring lower solar costs
China’s awareness of chronic air, water, and waste pollution have led to a significant focus on renewable energy. In 2017, the most populous country on the planet saw 53 gigawatts of solar power brought online. That 75 percent increase from the previous year nearly tripled 2015 production
More recently, China eased domestic capacity quotas for solar projects. The impact is likely to be seen worldwide.
Today, China leads in the global market for wind and solar components. Vast production of the panels they manufacture may drive down prices much as 35 percent this year. As wind and solar power use grow increased competition should lead to greater production and further efficiencies. For now, that competition should also help to control costs.