Comparative Analysis of the Photovoltaic Industry in China and the US: Policy, Innovation, and Market Competitiveness
DOI:
https://doi.org/10.54097/bqgdq374Keywords:
Solar photovoltaics; clean energy; China; United States; innovation.Abstract
The photovoltaic (PV) industries of China and the United States have evolved in distinctively different ways, driven by vastly contrasting government policies, technological innovations, and market dynamics. Over the period from 2015 to 2024, the Global Price of Energy Index witnessed a significant surge of 42%, bringing the urgency for viable renewable energy solutions to the forefront. China's PV industry, underpinned by robust government support and substantial investments, has soared to global prominence through its large-scale manufacturing capabilities and efficient production processes. In stark contrast, the U.S. PV industry places a greater emphasis on pioneering technological advancements in advanced PV technologies, yet it still relies heavily on imports to meet domestic demand. By analyzing data sourced from the International Energy Agency and industry-specific reports, this comparative analysis illuminates how these fundamental differences will mold the future competitiveness of both nations within the PV sector and profoundly influence the trajectory of the global energy transition.
Downloads
References
[1] Federal Reserve Bank of St. Louis. Global price of energy index. 2024. Retrieved from https://fred.stlouisfed.org/series/Pnrdindexm
[2] Newman, Rebecca, Ilan Noy. The global costs of extreme weather that are attributable to climate change. Nature Communications, 2023, 14(1): 6103.
[3] International Energy Agency. PVPS trends reports 2023. 2023.
[4] International Energy Agency. Special report on solar PV global supply chains. 2024.
[5] Jacobo, Jonathan Touriño. Solar PV was world’s fastest-growing source of electricity generation in 2023. PV Tech, 2024.
[6] Global Energy Monitor. China’s frontrunner photovoltaic program. 2023.
[7] Fitch Ratings. Chinese solar PV suppliers expanding abroad. 2023. Retrieved from https://www.fitchratings.com/research/corporate-finance/chinese-solar-pv-suppliers-expanding-abroad-17-12-2023
[8] Prince P E, Zheng B. Exploring the solar PV industry: A survey of PV manufacturers in China. Undergraduate Review, 2015, (1).
[9] U.S. Department of Energy. Solar manufacturing. 2024. Retrieved from https://www.energy.gov/eere/solar/solar-manufacturing
[10] Energy Institute. China’s solar PV manufacturing capacity to meet global demand twice over by 2027. 2024. Retrieved from https://knowledge.energyinst.org/new-energy-world/article?id=138866
[11] National Development and Reform Commission of the People's Republic of China. 14th five-year renewable energy development plan. 2022.
[12] Shanghai Municipal Development and Reform Commission. First batch of renewable energy and new energy special fund reward projects in 2023. 2023.
[13] State Taxation Administration. Guide to tax and fee preferential policies supporting green development. 2022.
[14] National Energy Administration. Transcript of the first half of 2024 press conference. 2024. Retrieved from https://www.nea.gov.cn/2024-07/31/c_1310783380.htm
[15] The White House. Inflation reduction act guidebook, section 201 – Imported solar cells and modules. 2022. Retrieved from https://www.whitehouse.gov/cleanenergy/inflation-reduction-act-guidebook/
[16] U.S. Environmental Protection Agency. Biden-Harris administration announces $7 billion solar for all grants to deliver residential solar, saving low-income Americans $350 million annually and advancing environmental justice across America. 2024.
[17] Kho S S, Pomper B A, Willems C R,et al.U.S. Trade representative supports extending trips waiver expansion discussions and launches u.S. International trade commission investigation. Intellectual Property & Technology Law Journal, 2023, 35(3): 9-11.
[18] National Energy Administration. 2024 mid-year photovoltaic power generation construction report. 2024.
[19] The State Council of the People’s Republic of China. The total output value of China’s photovoltaic industry exceeded 1.4 trillion yuan last year. 2023.
[20] Liu G, Ren Y, Ma W, et al. Development process and future trends of chemical refining agents' influence on grain refinement in aluminum alloys. Journal of Materials Research and Technology, 2024, (29): 242-257.
[21] U.S. Energy Information Administration. Electric power monthly. 2024. Retrieved from https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_1_01_a
[22] Statista. U.S. solar manufacturing pipeline by component and stage. 2024. Retrieved from https://www.statista.com/statistics/1401491/united-sates-solar-manufacturing-pipeline-by-component-and-stage/
[23] Zientara, Ben, Catherine Lane. Top 5 American solar panel manufacturers in 2024. Solar Reviews, 2024.
[24] You C, Khattak S I, Ahmad M. Impact of innovation in solar photovoltaic energy generation, distribution, or transmission-related technologies on carbon dioxide emissions in China. Journal of Knowledge Economics, 2024, 15, 3600-3634.
[25] Chadly A, Moawad K, Salah K, et al. State of global solar energy market: Overview, China's role, challenges, and opportunities. Sustainable Horizons, 2024, 11, 100108.
[26] U.S. Department of Energy. Solar futures study. 2021. Retrieved from https://www.energy.gov/eere/solar/solar-futures-study
[27] Christian M. Solar helps US clean power additions smash record despite wind slowdown: report. Platts Megawatt Daily, 2024, 4-5.
[28] International Energy Agency Photovoltaic Power Systems Programme (PVPS). National survey report of PV power applications in China 2022. 2023.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Journal of Education, Humanities and Social Sciences
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
