Why is the West so desperate to compete with China’s solar sector? | Transforming Business

China controls the majority of the global manufacturing process for solar energy – a stark contrast to its position 15 years ago, when Europe was the sector’s unchallenged leader. The reason? A heavily subsidized industry and lots of government financing. As well as a sharp decline in costs for consumers. But Western nations decry an unfair market advantage. One Swiss solar panel maker is determined to stay competitive, by moving its manufacturing from Germany to the U.S. — where energy prices are lower and they can tap into incentives offered under the Inflation Reduction Act. Do they stand a chance? And is it so bad if China dominates the market?

Credit DW News