What are China's solar PV exports?

In 2021, the value of China’s solar PV exports was over USD 30 billion, almost 7% of China’s trade surplus over the last five years. In addition, Chinese investments in Malaysia and Viet Nam also made these countries major exporters of PV products, accounting for around 10% and 5% respectively of their trade surpluses since 2017.

Why are global PV inverter shipments rising in 2021?

“Despite soaring raw material prices, supply chain challenges and delayed constructions, global PV inverter shipments continue to rise," said Annie Bernard, a research analyst at Wood Mackenzie. "Leading vendors have become bigger and the top players continue to consolidate market share in 2021."

How has the solar PV market changed in 2021?

The market increased its inverter shipment capacity by more than 17,000 MWac in 2021, with an annual growth of 52 per cent. Growing demand in Germany, Italy and the Netherlands, as well as Poland’s target of 7,300 MWac of solar PV capacity by 2030, contributed to the significant increase, the report said.

How has global solar PV manufacturing capacity changed over the last decade?

Global solar PV manufacturing capacity has increasingly moved from Europe, Japan and the United States to China over the last decade. China has invested over USD 50 billion in new PV supply capacity – ten times more than Europe − and created more than 300 000 manufacturing jobs across the solar PV value chain since 2011.

Why did global solar inverters increase last year?

Shipments of global solar photovoltaic (PV) inverters increased last year amid higher demand in markets where governments are racing to meet climate goals, a report has shown.

Who is the world's top solar PV inverter vendor?

China's Huawei retained its position as the world's top solar PV inverter vendor for the seventh consecutive year, followed by Sungrow and Growatt. Together, the top three vendors control more than half of the world’s solar PV inverter market, Wood Mackenzie said.