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Amid Energy Crisis, Chinese Solar Exports Double

#e360#solar#china#exports#power#record
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Pexels As the war in Iran squeezes the global supply of oil and gas, countries are looking to source more solar power. China, the biggest producer of solar equipment globally, saw its exports double in March, reaching a new record high. Since the war began in February, Iran has repeatedly halted ship traffic through the Strait of Hormuz, a key bottleneck through which roughly a fifth of the world’s oil flows. Fatih Birol, the head of the International Energy Agency, called the supply shock “the biggest energy security threat in history,” a view echoed by other experts.  The response in many parts of the world has been to ramp up purchases of solar equipment. In March, China exported 68 gigawatts of panels, cells, and wafers, an amount roughly equal to the solar capacity of Spain, according to data from Chinese customs officials. Also prompting the spike in sales was an effective rise in export taxes at the start of this month. Total capacity of panels, cells, and wafers exported monthly.…

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