China's photovoltaic solar panel exports double in March 2026, setting a historical record of 68 gigawatts

China's PV Exports Hit 68 GW in March 2026 — A Historic Record

Source: Ember Global Energy Think Tank | Published: April 28, 2026

Key Data at a Glance

Why Did Exports Surge? Three Converging Forces

① Global Energy Crisis Creates Urgent Demand

Since late February 2026, escalating conflict in the Middle East — including Iran's blockade of the Strait of Hormuz — disrupted roughly 20% of global oil and 15% of natural gas supply. The IEA warned this is "the largest supply disruption in global oil market history," accelerating countries' pivot to renewables.

In March, at least 50 countries set record import levels for Chinese PV products. Another 60 countries recorded their highest import volumes in six months. Key markets:

• 🌍 Africa: 10 GW imports — up 176% MoM
• 🌏 Asia: 39 GW imports — doubled MoM
• 🇮🇳 India, Nigeria, Kenya each surpassed 1 GW monthly imports for the first time
• Japan, Australia, and the EU all set procurement records

② Export Tax Rebate Cancellation Triggered Pre-Shipment Rush

China's Ministry of Finance announced the cancellation of the 13% PV export tax rebate effective April 1, 2026. This policy window drove overseas buyers to accelerate procurement before the deadline, contributing to the concentrated shipment surge seen in March.

③ Long-Term Energy Security Shifts from "Optional" to "Essential"

Governments worldwide are restructuring energy policy in response to fossil fuel dependency risks:

• EU Commission President committed to accelerating renewable energy deployment
• South Korean President called for "getting rid of fossil fuels as soon as possible"
• Vietnam's Vingroup abandoned large-scale LNG projects in favor of PV + energy storage

China's Full-Chain Advantage: Why the World Buys From China

China's ability to meet this surge is rooted in decades of industry development:

• 80%+ of global solar modules manufactured in China
• 96% global market share in silicon materials and wafers
• 70%+ of global N-type battery patents held by Chinese companies
• Production efficiency 1.5–2 percentage points ahead of overseas peers
• Costs 30–40% lower than international competitors
• Cumulative installed capacity: 763.5 GW — #1 in the world for 10 consecutive years (2025)

Leading manufacturers such as LONGi Green Energy and JinkoSolar are already executing large-scale contracts across Europe and Southeast Asia with next-generation HPBC 2.0 and TopCon technologies.

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Challenges & Outlook

The export boom doesn't eliminate headwinds. With the tax rebate gone, price advantages narrow. Trade remedy cases in markets like the US and EU continue (11 new cases in 2025 alone, covering 38.6 GW of modules). Some emerging markets face grid infrastructure and financing constraints.

However, the structural trend is clear: the IEA projects renewable energy's share of global power generation will grow from 28% today to over 40% by 2030. China's integrated supply chain, technology leadership, and scale position it as the indispensable partner for the global energy transition.

"This energy crisis provides a historic opportunity for China to become an 'energy powerhouse.' The Chinese PV industry is moving from 'Made in China' to 'Created in China' and 'Chinese Standards'."
— Erika Towns, Senior Research Scholar, Columbia University Global Energy Policy Center

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