China’s Green Tech Boom: A Global Catalyst for Decarbonization and Price Reduction

Viewpoint | How China's surplus in clean technology benefits the world

China's extensive growth in eco-friendly technology could assist the globe in reducing carbon emissions and lowering costs at the pace and volume necessary to tackle the climate emergency.

This has worldwide implications. To illustrate, China is responsible for 93 percent of the world's capacity to produce polysilicon, an essential component for solar panels, within the solar manufacturing supply chain. Its significant increase in production to levels of global dominance has considerably lowered the prices of polysilicon.

Other countries are finding it tough to compete. Although the cost of polysilicon produced internationally has stayed high – approximately US$21 per kg, inside China, it has dropped to just US$4-US$5 per kg.