Last year, over half the solar panels installed in the world were put into Chines solar projects according to Bloomberg New Energy Finance. A Chinese investment of $132.6 billion in renewable energy put over 53 gigawatts of solar capacity online in the country. By comparison, the United States renewable energy investment was $56.9 billion.
The Chinese approach differs from what we have in the United States partly because of Chinese strategy that seems to be to produce as much renewable energy generating equipment as possible in China. The country produces wind turbines and solar panels to provide for its own needs with enough left over to supply many other countries. Though China does not dominate sales of wind turbines elsewhere, it certainly manufactures most of the solar photovoltaic cells and panels used worldwide.
One company, JinkoSolar, has about 20% of the world market for solar panels, according to Nikkei Asian Review. In the face of the United States trade tariffs, it is simply selling the panels in other countries. It expects its sales to increase 30% this year, despite the tariffs.
China is also manufacturing over half of the electric cars and the great majority of heavier electric vehicles. The United States has fewer than a thousand electric buses by our last count. By comparison, China has manufactured them at a rate of over 100,000 per year for the last three years. These buses represent a $75 billion world market in which the U.S. is not participating.
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