China’s overcapacity, a surplus of surplus, could be seen as a boon to the energy transition, making clean-tech solutions more affordable. However, it may fuel global demand but also compress margins, challenging manufacturers worldwide, including those in China. This poses a tactical dilemma for Western economies like the European Union and the US, who struggle with cost versus autonomy. India’s Approved List of Models and Manufacturers (ALMM) policy, designed to support domestic solar manufacturers and protect them from cheap Chinese imports, may also hinder India’s solar infrastructure rollout. The ALMM policy, however, also adds friction to the development of India’s solar infrastructure, potentially making projects more expensive and time-consuming. The West’s pursuit of onshoring is underpinned by a desire to reinstate control over essential sectors and ensure that the green energy transition does not exchange dependency for dependency.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
