As an example, the substitution of fossil fuels by renewables and the corresponding global market for renewable power equipment offer opportunities, but also risks, for national or regional trade balances. In the case of the European Union (EU), for instance, there is a trade deficit with China in solar components, China being the largest producer of solar panels with 65% of the global production, 90% of exports of which 80% serve the EU market. Counting the trade benefit coming from export of solar equipment to non-EU countries, such as Japan and the United States, the resulting trade deficit for the EU has been EUR 21 billion in 2010, falling to 9 billion in 2012. Unlike trade in solar components, the EU has a sustained trade surplus in components for wind power, amounting to EUR 2.5 billion in 2012. One could therefore look more closely for one country where renewable energy innovation policy was particularly strong.