China’s Troubled Solar Industry May Be Nearing a Turning Point

-- China’s solar manufacturers have just been through a bloodbath of an earnings season, but there are tentative signs the massive glut that’s plaguing the industry could be starting to ease.Longi Green Energy Technology Co. and five other leading solar firms racked up a combined $2 billion of losses in the first half after a frenzy of factory building over the last few years created excess capacity that’s driven prices to record lows.

The Chinese solar industry’s 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 this year is just 593 gigawatts, according to BloombergNEF.

“Chinese manufacturers are responding to poor profitability and uncertainties around limitations to market access to the US and EU,” Goldman analysts including Trina Chen said in a note this month. “The China solar industry is heading into the final stage of a downcycle, with a cyclical bottom likely in 2025.”

Some of those actions are already taking place. Tongwei earlier this month bought Jiangsu Runergy New Energy Technology Co. in the industry’s first major consolidation move during this downcycle, and expansion plans at several other firms have been delayed or canceled.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Sunrun is adapting, growing in challenged solar industry: CEOSolar energy and battery storage operator Sunrun (RUN) recently reported a milestone of 1 million household customers — estimated to equal about 3 million...
Sumber: YahooFinanceCA - 🏆 47. / 63 Baca lebih lajut »

‘Nightmare’ permitting strangling B.C. solar industry, say installersNew B.C. government rebates of up to $10,000 could ignite a boom in solar energy. But some warn permitting hurdles are sending the province on a 'solar coaster.'
Sumber: timescolonist - 🏆 15. / 75 Baca lebih lajut »

Booming solar industry has a growing appetite for weed-chomping crewsSome clean energy companies are turning to flocks of sheep — and even pigs — to keep their solar panels out of the shade.
Sumber: CBCCalgary - 🏆 78. / 51 Baca lebih lajut »

Lake Nipigon’s guardians dig deep for proof of what industry has done to troubled watersTesting sediment and fish for methyl mercury, scientists help an Anishinaabe nation examine the legacy of hydro development in the 20th century
Sumber: globeandmail - 🏆 5. / 92 Baca lebih lajut »