War, Taxes Drive Record New Energy Exports from China to Global South

Solar panels on rooftops in Islamabad, Pakistan on April 17, 2026. Rapid imports from China have partially shielded Pakistan from oil shocks in the Middle East. Photo by AAMIR QURESHI / AFP

Africa and Asia drove record exports of Chinese solar panels in March. The increases were partly driven by countries rushing to stock up on components before the expiration of Chinese export tax refunds, which kept prices lower.

However, the increase was also triggered by the Iran war, with increased purchases of renewables helping countries to weather the shock of disrupted oil and gas supplies. It reflects increased investment in renewables in Asia, as Western investment retreats.

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by CGSP Staff

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