Chinese companies will have at least 20 gigawatts' worth of annual solar panel production capacity on U.S. soil within the next year, enough to serve about half the U.S. market. They benefit from heavily subsidized supply chains and low-cost government financing.
The surge in U.S. solar panel production by Chinese-owned companies, not previously reported, poses a challenge to President Biden's climate agenda. His administration seeks investment in clean energy but aims to avoid over-reliance on China.
Chinese-backed companies outperform competitors due to subsidized supply chains and government financing. They also receive U.S. subsidies for clean energy manufacturing, enhancing their competitive advantage.
"They have a lot more experience building factories and setting up supply chains than your average U.S. greenfield manufacturer," said a solar industry researcher, indicating Chinese investment could benefit U.S. solar manufacturing.
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