China is overtaking the solar market

China may be the world’s largest carbon polluter, but it’s also quickly taking over the solar energy business.

China National Chemical Corp. recently announced a plan to purchase REC Solar, a Norway-based company, for $640 million. With many solar panel makers going out of business as prices drop due to overproduction, REC Solar survived.

With plans to increase renewable energy and cap carbon emissions, China is likely to expand solar equipment manufacturing further. They’ve also boosted overseas investments that benefit several countries including the United States.

Read the full article here: How China is Expanding its Influence in Global Solar Market

Web Analytics