Solar panels set to become cheaper

Solar farm in Arizona - Wikimedia CommonsIndia is now the fastest growing photovoltaic (PV) market, knocking Britain into fourth place.

That’s according to a Trendforce Energy Trend report, which said that the Chinese PV industry exported 12GW of modules during the first half of this year, of which 6GW went to Japan, the US and India.

International disputes over PV production will not stop both China and Taiwan to create additional manufacturing capacity for modules.

China had been hit by tariff impositions and that’s caused retaliation from the country, which has imposed high tariffs on US and European polysilicon companies.

American and European companies are likely to reduce their capacities because of the import barriers China has placed on them.

Many companies, said Energy Trend, are looking to establish PV production facilities in India as it is such a bouyant market.

The competitive nature of the market is, the analysts warn, likely to cause consolidation and strategic alliances in the short term.

Here’s Trendforce Energy Trend’s map of Chinese module exports.

Chinese PV exports first half of 2015