Solar photovoltaics (PV) has become a mainstay of low-carbon sustainable energy strategies, with the cost of electricity generated by PV plants declining by 77% between 2010 and 2018. Trade and the globalisation of the solar PV market have been major factors driving the decrease in technology prices as manufacturers are able to source goods and services from competitive suppliers.
However, trade policies and harmonised coherent product standards are needed to unlock additional cost reductions and are therefore crucial to a globalised PV market that promotes safe and inclusive trade in solar PV goods and services.
The latest publication from the International Renewable Energy Agency and the World Trade Organization draws on the development and implementation of a quality infrastructure for trade in renewable energy technologies. By assisting an expansion in solar energy, trade can contribute to environmental goals and support economic recovery, including an increase in jobs in the aftermath of the COVID-19 crisis.