Chinese photovoltaic (PV) companies are becoming more competitive in the global market thanks to relatively low manufacturing costs, but they need to explore new technology to maintain their edge, a business representative said.
The Chinese solar market has grown quickly since 2004 and it has now become the world's largest, Tang Jun, president of Jiangsu-based Rietech New Energy Science Technology Co, told the Global Times on Wednesday.
Compared with solar firms in Europe, domestic PV firms have lower manufacturing costs, Tang said, adding that some companies are trying to cut costs further through transferring their operations to countries in Southeast Asia.
"But we also have some shortcomings," Tang noted. Chinese PV companies have less advanced equipment than companies in Europe and the U.S., Tang said, adding that domestic solar firms need to develop new technology to further improve their competence.
