The International Energy Agency (IEA) has reported that global solar cell and module production capacity is operating at 50% utilization, and that investment into new solar manufacturing facilities came to $80 million in 2023, double the 2022 figure. China accounted for 96% and 95% of polysilicon and wafer investments, and 83% of module factories. President Xi Jinping has denied the existence of a “China overcapacity problem” in the renewable energy industry. While overcapacity is a simple fact – with Chinese production capacity being larger than global demand – whether that is a bad thing, and for whom if so, is a different question. The President also stated that China has competitive advantages in these industries. The EU has recently announced…