The energy crisis has led to sustained growth in Europe's "sweeping" exports

Full of Chinese photovoltaic modules! The energy crisis has swept Europe out of stock, and China's photovoltaic exports continue to grow. Europe's warehouses are filled with Chinese photovoltaic modules. On the 20th, Quartz Finance Network cited research results released by research company Resta Energy, which showed that the cumulative value of Chinese made solar modules hoarded in Europe is about 7 billion euros, far exceeding the current actual demand. In the past five years, Europe's expenditure on photovoltaic imports has almost doubled. Some analysts say that Europe, lacking a sense of energy security, is working hard to build a photovoltaic supply chain, but the urgent demand has made many companies unable to wait that long.

The energy crisis has made Europe "sweep". According to the report of Quartz Financial Network, after the outbreak of the Russia-Ukraine conflict last February, Moscow almost cut off the supply of natural gas to Europe, exposing Europe's fragile energy security. In search of reducing dependence on Russian energy, Europe imported a record number of photovoltaic modules last year. 

It is expected that the European Union will stockpile 100 gigawatts of photovoltaic modules by the end of 2023. Since 2023, China's monthly exports of photovoltaic modules to Europe have been higher than the same period last year, with exports even increasing by 51% year-on-year in March. According to data from the China Photovoltaic Industry Association, the total export value of China's photovoltaic products in the first half of this year is estimated to exceed 29 billion US dollars, a year-on-year increase of about 13%. 

The largest market in Europe accounts for about 50%, with a growth rate of over 40%. China's photovoltaic products are mainly sold to these countries in Europe: the Netherlands, Spain, Germany, Poland, and France Chinese enterprises have a huge competitive advantage. 

In the first half of this year, Europe's solar power generation increased by nearly 11% year-on-year. The trend of Chinese photovoltaic products exporting to Europe is likely to change in the second half of the year. At present, the amount of photovoltaic products hoarded in Europe is rapidly increasing, which will take some time to digest. The high growth of exports in the future may slow down. It is predicted that by 2027, China's market share in global photovoltaic manufacturing may decrease from about 90% to 75%. 

The localization of the photovoltaic industry chain in Europe and America still needs a buffer period, and photovoltaic Chinese enterprises should accelerate their overseas industry chain layout and actively explore emerging markets outside of Europe and America. Chinese enterprises also need to carefully consider their production capacity layout and planning. The future market downturn will be an important period.