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International Business Times

Science

Oliver HOTHAM

China's Solar Goes From Supremacy To Oversupply

China David Fishman United States Lauri Myllyvirta

China's massive solar industry, which enjoys strong support from the state, makes eight of every 10 solar panels in the world (Credit: AFP)

Strong state support and huge private investment have made China's solar industry a global powerhouse, but it faces new headwinds, from punitive tariffs abroad to a brutal price war at home.

Officials meeting in Baku next month for the COP29 summit hope to agree on new finance targets to help developing countries respond to climate change, including ditching fossil fuels.

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