Chinese Solar Photovoltaic Production Soars

Chinese solar photovoltaic production has soared over the past decade, reaching 21,069 megawatts by 2012. Back in 2002, the country had a mere 10 megawatts of annual solar panel production, illustrating the massive strides made in the industry in recent years.

However, the pace of growth has not proved entirely positive, with many solar panel makers struggling in the face of massive debts. China’s Ministry of Finance recently announced it will offer tax breaks to companies developing solar panels in an attempt to improve the situation.

Taiwan produces the second largest annual volume of solar panels worldwide with 5,025 megawatts in 2012. The United States in quite a large distance behind. After producing 1, 056 megawatts of solar equipment in 2011, this number fell to just 800 megawatts in 2012.