>The Chinese solar industry’s current predicament can be traced back three years ago, when a surge in demand for panels boosted prices and unlocked ambitious expansion plans that resulted in far too much supply.
The sector ended 2023 with the ability to produce 1,154 gigawatts of solar modules – more than double the capacity from two years earlier. Projected demand in 2024 is just 593 gigawatts, according to BloombergNEF.
Longi said it hoped to “push the industry out of a quagmire of low price competition” as it raised solar wafer prices last week. TCL Zhonghuan Renewable Energy Technology also said last week it would increase prices of three types of wafers, according to a news report in Chinese media.
Looks like now is a great time to buy and install solar panels!
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>The Chinese solar industry’s current predicament can be traced back three years ago, when a surge in demand for panels boosted prices and unlocked ambitious expansion plans that resulted in far too much supply.
The sector ended 2023 with the ability to produce 1,154 gigawatts of solar modules – more than double the capacity from two years earlier. Projected demand in 2024 is just 593 gigawatts, according to BloombergNEF.
Longi said it hoped to “push the industry out of a quagmire of low price competition” as it raised solar wafer prices last week. TCL Zhonghuan Renewable Energy Technology also said last week it would increase prices of three types of wafers, according to a news report in Chinese media.
Looks like now is a great time to buy and install solar panels!