China's Solar Industry Goes from Dominance to Oversupply

11 Oct 2024 CW Team

China's solar industry has become a global powerhouse due to strong state support and significant private investment, but it is now facing new challenges, including punitive tariffs from other countries and a fierce price war domestically. Officials gathering in Baku for the COP29 summit next month are hopeful that they can agree on new financial targets aimed at assisting developing nations in addressing climate change, particularly by moving away from fossil fuels.

Last year, countries reached an agreement to triple the global installed renewable energy capacity by 2030. China is currently installing nearly twice the amount of solar and wind power as all other countries combined and holds a dominant position in the market. It manufactures eight out of every ten solar panels and controls 80 percent of each stage of the manufacturing process.

Furthermore, China is home to the world’s top ten suppliers of solar panel manufacturing equipment, with related exports reaching a record $49 billion last year, as reported by Wood Mackenzie. Analysts attribute this supremacy to significant state support. The International Energy Agency noted that Beijing invested over $50 billion in new solar supply capacity between 2011 and 2022.

The industry has also benefited from access to inexpensive raw materials, easily accessible capital from state-owned banks, and a large engineering workforce. Lauri Myllyvirta, co-founder of the Centre for Research on Energy and Clean Air, a climate think tank, mentioned that Chinese producers were ahead of others in terms of cost efficiency.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..