China’s polysilicon manufacturing is down almost half (-44.7%) year-on-year for Q1 2025, which is the most dramatic single numerical indicator you can find of a global plateau in renewable energy investment. After intense expansion which ran for several years after the pandemic, activity in the global renewable energy industry in general is slowing. EVs and energy storage will continue to post good growth rates for a while yet, but wind and solar are about to post weak annual increases – or even a decline, in 2026 if not in 2025. China is so big as an individual market that the global total will mostly come down to where it chooses to set incentives and how it handles rising curtailment rates…