States increased by about 10 percent relative to other markets, and by 20 percent following the 2018 tariffs, leading to reduced adoption of solar panels in that country.12 On the producer's side, even in the absence of trade tariffs, and despite low levelized cost of energy (LcOE) costs, there are still important financial risks to investing in solar PV projects, as they are typically highly capital-intensive and financed via project finance.13 On the consumer side, credit constraints can affect the ability of consumers to install solar PV. In developed economies, even if the costs of solar system hardware (modules, inverters) have fallen, there remain important "soft" costs hampering the deployment of solar PV. Affordability remains one of the most persistent barriers to broad-based EV adoption. While lifetime costs are often favorable, the purchase price of battery-electric cars in Europe and combustion models, dampening uptake outside high-income households.4 Loan rates and availability are typically less favorable for subprime borrowers, creating another barrier for lower-income groups. Innovative instruments such as zero-interest loans, on-bill financing tied to utility accounts, or co-investment by public green banks could help overcome these gaps measures can drive rapid uptake. The Government combined high taxes on petrol and diesel this policy mix has remained consistent across successive governments, and the absence of a domestic automaker lobby removed opposition to high fuel taxes. China's EV expansion is the clearest example of how coordinated industrial policy can transform a sector. Since the early 2010s, national and local governments have combined consumer subsidies, purchase-tax in major cities. At the same time, public investment has expanded charging networks, while efficiency and range. Subsidies were gradually reduced as volumes expanded and costs fell, Over time, solar PV prices have declined significantly, as cumulative capacity World in Data. The learning curve shows the decline in module prices from over USD 100/W in 1975 to below USD 0.5/W in 2024, plotted against cumulative global capacity. Each doubling of deployment has driven significant cost reductions, underscoring the role of learning-by-doing and economies of scale in modular clean technologies. Source: Reproduced from Our World in Data (https://ourworldindata.org/grapher/solar-pv-prices-vs-cumulative-capacity).