China's Solar Panel Glut Undermines Its Agreement with the EU
By Reuters: “We fear a second wave of bankruptcies,” said the head of an association of EU solar producers. A sharp increase in solar power production in China and a sharp fall in domestic demand have sparked a sudden surge of cut-price exports, undermining a China-EU agreement to limit damage to European producers.
China produced 27 gigawatts (GW) of solar photovoltaic (PV) modules in the first half of 2016, an increase of 37.8 percent and installed 20 GW of new solar power capacity in the same period, three times as much as the same period a year ago.
However, demand has since tailed off. Solar projects operational since July face a reduced price paid by grid operators for their power. Cont'd...
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