Chinese photovoltaic products help many countries resist oil crisis

#Soaring oil prices force global energy transformation#

According to a report by a reporter from the Global Times,although there are signs of easing in the current situation in the Middle East,however, the energy awakening triggered by geopolitical turbulence is now irreversible.In the volatile international energy market, green industries are emerging as a new stabilizing force.

Sales of electric vehicles and photovoltaic products have surged

In the face of fluctuating oil prices and supply gaps, many governments and enterprises have begun to recalculate their energy "accounts".The transformation taking place in the fields of Pakistan is rapidly converging into a global energy transformation trend.

In Laos, due to fuel shortages, over 40% of gas stations across the country have announced the suspension of operations,long queues have formed at gas stations in multiple regions,many people have to queue for hours just to fill up a few liters of fuel.Against this backdrop, China's electric two-wheeled vehicles have unexpectedly become popular.At the downtown store in Vientiane, several Chinese electric vehicle brands were even sold out for a while, resulting in a situation where supply fell short of demand.

Hong Kong's "Bus News" quoted the head of an electric motorcycle company in Jiangmen City, Guangdong Province, China, as saying,the company's inventory in the Southeast Asian market is almost depleted, necessitating urgent replenishment."Recently, there has been a significant increase in order volume.In March alone, we exported over 6,000 electric bicycles,the shipment volume in April will exceed 7,000 units,our production orders have been scheduled until July."

"In recent years, Chinese electric vehicles have seen strong growth momentum in markets such as Australia,before the current crisis broke out, its electric two-wheeled vehicle market in Southeast Asia had already expanded rapidly."Tan Hao, a professor of management at the University of Nottingham Ningbo China said,"The recent surge in oil prices will further accelerate this trend."

Not only in the field of electric mobility, but also the application transformation of renewable energy has significantly accelerated in multiple regions.Reuters reported that electric vehicle sales have continued to soar from Indonesia to Uruguay,the speed of popularization has far surpassed that of the United States.In India, due to concerns about gas supply security, sales of induction cookers have seen a significant increase.In some developing countries, the installed capacity of photovoltaics has entered a period of rapid growth.In Nigeria, an increasing number of households and businesses are abandoning their backup generators,switch to using solar energy system.Many European governments are also increasing their investment in renewable energy.Germany recently launched an 8 billion euro plan aimed at expanding wind power capacity and subsidizing electric vehicle sales.

Nowadays, the global preference for green energy is not solely driven by environmental consciousness, but rather because it has become the most economical choice on paper.In recent years, the sharp decline in the cost of solar panels and wind turbines has accelerated this transition.A United Nations analysis report last year pointed out that the power generation cost of over 90% of new renewable energy projects globally has been lower than that of traditional fossil fuels.

In this cost revolution, Chinese manufacturing is playing a crucial "toolbox" role.Research from the think tank platform VoxEU shows that China's photovoltaic (PV) production capacity benefits from economies of scale and technological advancements,the cost of photovoltaic power generation has decreased by over 90% in just ten years (from 2004 to 2013).This change fundamentally reshapes the logic of global energy acquisition, enabling clean energy to compete with fossil fuels,and significantly helped other countries reduce carbon emissions.

Khaled, an economics professor and energy expert at Helwan University in Egypt said, in an interview with the Global Times on the 8th: "When oil prices are pushed up by war,the sunshine in the desert is actually more trustworthy."He believes that the energy shock triggered by the situation in the Middle East is forcing developing countries to rethink their energy security.In Khalid's view, the reality is clear: "Oil determines risk, while the sun determines confidence."