BEIJING: More and more companies have started to capitalize on the growing demand for renewable energy around the world. China is no exception. In Beijing’s effort to increase the share of non-fossil fuel in its total energy use to 20 percent by 2030, many Chinese companies in the sector have seen their revenues increase, such as the solar products manufacturer China Sunergy or CSUN. But CSUN is seeing opportunity far beyond the local Chinese market.
By 2020, developers worldwide are expected to spend more than $134 billion usd annually on solar power systems.
Last year solar panel production surged by 30%, China being at the forefront of that demand in an effort to cut smog and reduce greenhouse gas emissions.
Beijing aims to install almost 18 gigawatts of solar power capacity this year alone.
Solar products manufacturer CSUN saw their revenue rise 41% last year on Asian demand. And see further room for growth as the European union works towards a goal of producing 20% of its total energy from renewable energy by 2020.
In 2012 CSUN opened it first overseas factory in Turkey, which produces modules up to 300 Megawatts and solar cells of 100 Megawatts.
“In 2011, we started producing solar modules out of China and we looked for Poland, Brazil, South Africa and Turkey and we decided that Turkey was the best location to provide to our customers, especially in Europe and now we are exporting to the US,” Egeman Seymen, Director of Sales for CSUN, said.
Solar power in the US grew by 30% last year and brought in nearly $18 billion usd in new investments.
As Turkey is a member of the European Union customs zone, producing solar panels here, allows this Chinese company to bypass strict EU customs regulation when selling to the European and North American markets.
Currently 99% of CSUN’s production is for export but this year they are looking to expand and help the local Turkish market.
With an almost 90% dependence on energy imports, Turkey is aiming to power 30% of its energy requirements via renewables by 2023, including 5 gigawatts from solar energy.
“I’m quite optimistic for the US as well as the local market after 2016. We have good sunshine and the cost for the solar PV systems is decreasing. Each year is growing, growing, growing, so after 2016 I expect Turkey to be the next booming market for the solar industry,” Egeman said.
Turkey is currently working to prepare its grid for the transfer and delivery of solar energy. Experts say if countries boost solar output to 20% of total energy production, global emissions would drop by around 19% in 10 years.
