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Chinese-manufactured solar photovoltaic (PV) panels are piling up in European warehouses, with Rystad Energy forecasting 100 GWdc of solar capacity in storage by the end of 2023.
These goals include a target for 30 GWdc of European manufacturing along the entire value chain by 2025 and 40% of installed solar PV being manufactured within the continent by 2030. Despite these ambitious goals, between 2019 and 2022, locally-made modules could not keep pace with the growth of imported panels.
An overwhelming €18.5 billion, equal to 91% of all PV import expenditure, was spent on Chinese products, as volatile panel prices impacted buying decisions.
The imports are heading to several key destinations, including the Netherlands, Spain, Germany, Poland, France, Greece, Italy, and the UK. The Netherlands was the standout leader in Chinese PV imports in 2022, bringing in almost 45 GWdc alone, more than ten times the amount of panels installed domestically across the year.
