China accounts for 80% of all solar panels produced in the world

Almaty. July 21. Silkroadnews – China accounts for 80% of all solar panels produced in the world, Russian information portal Pronedra reported.
“China managed to press the US that created the first solar batteries back in 1970 in the global solar energy market. Nearly 80% of all solar panels sold have been produced in China”, publication reads.
It is noted that China has not only boosted the development of the industry, but also reduced the prices of solar panels. The cost of batteries fell 80% making the solar energy affordable. At the moment, China takes two-thirds of the market estimated at $100 billion.
According to the publication, China also produces about 50% of wind turbines (2 turbines per hour) and the state actively supports both industries.
“An important factor is a support provided by the state, only in two years of intensive development of the renewable energy sector Chinese companies have received 42 billion soft loans”, report says.