Why are solar panels becoming a trend in Cambodia?

For decades, Cambodia’s high economic growth has been fueled by strong garment exports, supported by tourism. However, a new trend in the country’s exports has emerged in the past two years – a sharp increase in electrical and electronics (E&E) manufacturing products, particularly solar panels.

Does Cambodia export solar panels?

In 2022, Cambodia’s solar panel exports soared by 2.8 times year-on-year to USD1.0 billion; the share of solar panel exports to the country’s total exports rose to 4.6 percent from 1.4 percent.

Are Cambodia's solar panel exports facing a critical juncture in 2024?

After a short-lived boom in 2022-2023, Cambodia’s solar panel exports entered a critical juncture in 2024, facing significant challenges.

Why should Cambodia invest in solar panels?

Despite facing significant challenges, Cambodia possesses several advantages that would support the continued development of its solar panel industry. Cambodia can diversify its export destinations from the U.S. to developing economies, such as those in the Middle East or Africa who are transiting to greater use of renewable energy.

How many solar PV projects are there in Cambodia?

Scores of seven solar photovoltaic (PV) projects are in the pipeline for construction and planned for operation by 2023. The Cambodian government aims to generate 20 percent of energy from renewable energy. This is our guide to Solar Energy in Cambodia.

Is Cambodia a good destination for solar manufacturing?

China+1 Strategy: Cambodia remains an attractive destination for solar manufacturing, benefiting from low labor costs and foreign investor-friendly policies under the 'China+1' and 'Thailand+1' strategies.