An analysis by a nonprofit research group claims that the United Nations organization on climate change has been drastically underestimating the carbon intensity of Chinese-made photovoltaic cells.
Environmental Progress, a nonprofit organization co-founded by investigative journalist Michael Shellenberger, in collaboration with The Blind Spot and Italian analyst Enrico Mariutti, argue in a recently released report that Chinese-made solar panels are about three times as dirty—in terms of carbon emissions during their production—as what has been claimed by the Intergovernmental Panel on Climate Change (IPCC), the U.N. body for assessing climate change science.
“People say solar panels don’t produce carbon emissions, but they do. And now, a major new investigation by Environmental Progress, drawing on the research of @enricomariutti, finds that solar panels made in China produce at least 3x more carbon emissions than IPCC claims,” Mr. Shellenberger wrote in a tweet on July 24.
Specifically, the IPCC claims that the carbon footprint of solar panels—most of which are made in China—is about 48 grams of carbon dioxide (CO2) per kilowatt-hour (kWh). But Environmental Progress said in a bombshell report that research carried out by Mr. Mariutti suggests the true carbon emissions are closer to 170 grams to 250 grams of CO2 per kWh—between three to five times higher than reported by the U.N.
“For 10 years, the @IPCC-CH has been presenting misleading evidence on the carbon intensity of photovoltaic energy,” Mr. Mariutti said in a Twitter post on July 24.
The IPCC didn’t respond to a request for comment on the report based on independent calculations.
‘Dirty Secret’
In April, Mr. Mariutti, an analyst specializing in economics as well as climate and energy policy, published a report titled “The Dirty Secret of the Solar Industry.” In the report, he argued that the IPCC was vastly underestimating the amount of carbon generated by Chinese-made photovoltaic cells because it was basing its calculations on a Europe-based, low-carbon supply chain rather than the coal-reliant production processes in China.
“We are investing hundreds of billions of dollars a year in technologies that are low-carbon only because someone wrote it down somewhere,” Mr. Mariutti said in the executive summary of his report. “There aren’t any national or international authorities who have bothered to understand on what basis and how this ‘paper knowledge’ was assembled.”
The problem is that most of the carbon intensity data that the IPCC—and governments—rely on for solar panels are based on modeling that’s likely to have vastly underestimated the carbon emissions of solar power because of a lack of transparency, or simply inaccurate or “made-up” data from Chinese manufacturers, according to the Environmental Progress report.
Over the years, China has become a dominant force in the production of solar panels. For example, about 97 percent of the global supply of solar wafers—a key component of photovoltaic cells—are made in China.
However, China’s growing share of the solar panel market hasn’t come about because of innovation.
“The majority of experts consulted by Environmental Progress agree that China’s competitive advantage did not lie in an innovative new technological process, but rather in the very same factors the country has always used to outcompete the West: cheap coal-fired energy, mass government subsidies for strategic industries, and human labor operating in poor working conditions,” according to the group’s report.
When he first released his independent report in April, Mr. Mariutti said in a post on Twitter that he was motivated to publish his findings “in light of the acceleration of European climate policy, which threatens to condemn Italy to irreversible decline.”
He said he felt it was his duty to make his research public in order to inform public policy decisions.
“In the last 10 years, the IPCC has systematically underestimated the carbon intensity of photovoltaic energy by pretending that photovoltaic modules are produced in Europe rather than in China,” he said at the time.
“By recalculating the carbon footprint of a photovoltaic system on the basis of a predominately coal-based energy mix, it is possible to estimate that the global average carbon intensity of photovoltaic energy is at least 200 [grams of CO2 per kWh].”
Mr. Shellenberger, for his part, has long warned about the holistic environmental impacts of the solar panel industry.
Solar Panel Waste Tsunami
In 2021, Mr. Shellenberger told NTD’s “The Nation Speaks” that the economics of solar panel production, deployment, and recycling shows that the technology has a “toxic” and “dangerous” dimension, while its advocacy is driven by ideological leanings rather than by sound science.
“We’ve been in a sort of hypnotic trance,” Mr. Shellenberger said at the time, referring to what he characterized as the misguided belief that solar power is an environmentally friendly alternative to traditional forms of power generation such as nuclear.
“It’s a spiritual pursuit,” he said. “There’s the idea that … we’ll protect the natural environment by being dependent on natural energy flows like sunlight. It’s not a scientific view. It actually is worse for the environment.”
A Harvard Business Review study concluded that solar panels are being replaced faster than expected because of various economic incentives, and warned of a rising mountain of solar panel trash “of existentially damaging proportions” unless incentives are adopted to drive down the high costs of recycling.
The Harvard study cited estimates by Garvin Heath, senior scientist at the National Renewable Energy Laboratory, who told PV Magazine that it costs $20 to $30 to recycle a panel, versus $1 to $2 to send it to a landfill. Harvard Business Review concluded that the bright promise of more widespread adoption of solar energy as an environmentally friendly alternative “would darken quickly as the industry sinks under the weight of its own trash.”
Asked about the study, Mr. Shellenberger confirmed the high recycling costs but said that they’re just one part of the end-of-life burden of solar energy. The panels contain heavy metals such as lead, which can be released as a toxic cloud if the panels shatter during disposal.
“It’s hazardous waste,” he said at the time.
With the proliferation of renewable energy sources, especially solar power, in the United States, the issue of tackling waste has become a growing concern.
The United States currently has an estimated 149.5 gigawatts of solar capacity installed nationwide.
Research firm Wood Mackenzie expects the country’s total installed solar capacity to hit 378 gigawatts by 2028.
Article cross-posted from our premium news partners at The Epoch Times.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.