Factories talk about the solar container crisis

Are EU solar companies facing an existential crisis?

EU solar manufacturers have warned for months that they face an existential crisis with respect to China’s near-total dominance over global supply lines, which has caused a supply glut of dirt-cheap solar panels inside the bloc and left them unable to compete.

Why is China letting solar companies fail?

The government decided 15 years ago to put extensive support behind solar power, and then let the companies claw it out. Beijing has shown a high tolerance for letting firms stumble and even fail in large numbers. Robots at a factory in China’s Xinjiang region in May.

Are Chinese solar companies dumping solar cells in Asia?

In April, a coalition of manufacturers including First Solar, QCells and Meyer Burger filed a petition to the US International Trade Commission calling for new tariffs on imports of solar cells. They accused Chinese solar companies of dumping cells in south-east Asia, the source of the bulk of US imports.

Why are Chinese solar companies slashing prices?

Chinese manufacturers are competing for customers by cutting prices far below their costs, and still keep building more factories. The price slashing has taken a severe toll on China’s solar companies. Stock prices of its five biggest makers of panels and other equipment have halved in the past 12 months.

Is the European solar industry collapsing?

The European solar industry is collapsing despite the EU’s energy transition and expensive efforts to promote solar energy, says industry association SolarPower Europe. Eight European solar supply chain companies have either restructured their loans, halted production, filed for bankruptcy, or issued warnings of impending facility closures.

Is a global supply glut affecting solar panels?

Solarwatt is not alone. A global supply glut has pummelled solar panel prices over the past two years, leaving swaths of Europe’s manufacturers unprofitable, threatening US President Joe Biden’s ambition to turn America into a renewable energy force and even ricocheting back on the Chinese companies that dominate the global market.