68GW - China's Solar PV Exports Hit Record High in March - Global Rush Driven by Energy Crisis and VAT Rebate Policy Adjustment

68GWChina Solar PV ExportsMarch 2026 Record$9.1BSolar Cell Export Value+84% Year-on-Year50+Countries HitAll-Time Import Highs

In March 2026, China's solar PV product exports reached an unprecedented 68GW, doubling February's figure and breaking the previous record set in August 2025. The single-month export volume of 68GW is roughly equivalent to Spain's total installed solar capacity, or Australia's total national installed capacity. In terms of export value, China's solar cell exports reached $9.1 billion in March, up 84% year-on-year, also hitting a record high.Image: https://www.vmaxpowerpv.com/uploads/449c-6ae8387249e9eec229ec26f1be6a5a24.jpg

Global markets saw simultaneous surges. 50 countries recorded all-time highs in solar imports from China, covering Asia, Africa, Europe, and Australia. The African market performed particularly strongly, with export volume up 176% month-on-month, surpassing 10GW for the first time in a single month. Nigeria, Ethiopia, and Kenya each exceeded 1GW of imports for the first time. The Asian market also grew rapidly, with export volume doubling to 39GW. Afghanistan (+320%), Turkey (+277%), and Japan (+215%) saw the most significant growth. Among major importing countries, India ranked first with 11.3GW (up 141% month-on-month), followed by Indonesia with 6.2GW. Major economies including the United States, Australia, France, Italy, and Japan also recorded record-high solar imports from China.

Two Key Drivers Behind the Export Surge

1. Escalating Energy Security Concerns

Geopolitical conflicts, including the US-Iran war, have caused global oil prices to soar. The Strait of Hormuz has been almost completely closed, described by the International Energy Agency (IEA) as the most severe energy supply disruption in history. Against this backdrop, solar energy - a clean energy source not restricted by geographical boundaries and capable of decentralized deployment - has rapidly gained strategic importance. Oil and gas import-dependent regions such as Japan, Australia, and the European Union are accelerating their transition from fossil fuels to solar power.

2. VAT Rebate Policy Adjustment

Effective April 1, China cancelled the VAT export rebate for solar PV products (previously around 13%). Overseas buyers rushed to place orders before prices increased, further boosting March export figures. Experts point out that the simultaneous increase in both volume and price indicates this is not a short-term phenomenon - China's solar products are gradually moving beyond "cutthroat competition" toward a return of value.

Image: https://www.vmaxpowerpv.com/uploads/059fb83bbe3996228cad0dfd741eca231518.jpegFrom Product Export to Capability Export

Notably, the export surge is not limited to finished modules. Exports of solar cells and wafers also grew significantly, reaching 36GW in March, up 108% month-on-month. Since October 2025, cell and wafer exports have surpassed module exports. This indicates that many countries are accelerating the establishment of local solar assembly and manufacturing capabilities - moving from "buying modules" to "buying components and assembling locally." China's solar industry is evolving from "product export" to "capability export."

Image: https://www.vmaxpowerpv.com/uploads/534fb0915df2ff7bfd36d59b730e8f98.jpegGlobal Solar Growth Accelerates30%Global Solar Capacity Growth in 202570%+China's Share of Global PV Production14%Wind Energy Growth in 2025 (vs. Solar 30%)

Ember data shows that global solar power generation capacity grew by 30% in 2025, far surpassing wind energy (14%). China accounts for more than 70% of global PV production, firmly securing its leadership position in the global solar sector. Experts note that with its cost advantages, technology, and full industry chain, China's solar industry has become a dominant force in the global energy transition. Against the backdrop of persistently high energy prices, solar energy - as a clean, economical, and rapidly deployable solution - will further strengthen its market competitiveness.

Image: https://www.vmaxpowerpv.com/uploads/20171031080844126.jpg

Ensuring Long-Term Efficiency - A Critical Challenge

As global markets rush to purchase Chinese solar products, ensuring the long-term efficient operation of these power plants has become an equally critical challenge. MULTIFIT specializes in solar cleaning robots and smart operation & maintenance, providing a reliable "China Solution" for power plants worldwide.

Image: https://www.vmaxpowerpv.com/uploads/09285567-584a-45ce-b089-07fe3ca133aa.jpg

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