Renewable production is still rapidly increasing, and prices falling. At some point, you saturate the most profitable markets relative to production, and get a race to the bottom.
Worse off nations should benefit from the glut of cheaper panels from companies fighting to stay afloat, that are far cheaper than continuing to buy oil.
Let’s just hope China doesn’t collapse then. We need to produce more panels in more places, however high startup and supply chain setup costs with falling market prices means it’s leading to only established players or national strategic investing.
Worse off nations should benefit from the glut of cheaper panels from companies fighting to stay afloat, that are far cheaper than continuing to buy oil.