There is no section of human life that hasn’t been affected by the novel coronavirus pandemic. This includes the solar energy business too, which has taken a hit as well, but unlike other sectors, not only has it not been too severely affected but is also expected to recover a lot quicker!
Many global industry analysts had predicted that there would be a shortage of solar wafers, module glass, and other components in China, which would, in turn, lead to a rise in solar component prices, but thankfully, no such escalation has been observed, though there have been disruptions in the supply chain.
When it comes to the solar energy business, China dominates the PV modules market with India as one of its biggest buyers. In fact, Chinese firms provide 80% of the solar cells and modules used in India as they make up for 40-60% of the total cost of a solar energy project. Luckily, nearly 80% of the solar industry in China has already recovered and whatever supply chain disruptions have taken place are expected to be fully restored in some time.
When it comes to the solar energy business, China dominates the PV modules market with India as one of its biggest buyers. In fact, Chinese firms provide 80% of the solar cells and modules used in India as they make up for 40-60% of the total cost of a solar energy project. Luckily, nearly 80% of the solar industry in China has already recovered and whatever supply chain disruptions have taken place are expected to be fully restored in some time.
As the curve of the pandemic has almost flattened in China, employees are gradually resuming work as restrictions are being eased, which means that export of many solar energy-related materials like PV panels, aluminium frames, used in the creation of solar grid system, and other key components like solar inverters, module mounts, etc. has now become possible.