China has become the prop for the world PV business. It has become the worlds biggest producer of PV (55% of capacity) and the worlds biggest consumer of PV (14GW out of 50GW in 2015). China is supporting PV in two ways.
- The production capacity was created with government supported debt, a lot of which is currently bad debt in the hands of insolvent companies that China keeps alive.
- China's PV consumption is supported by feed in tariffs (FIT) and is of sufficient quantity to keep the production capacity afloat.
By Edmund Kelly