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China's Solar Industry Calls for Consolidation to Cope With Overcapacity

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Solar Industry News

China,Overcapacity,Price War

China's solar industry is facing a severe crisis due to overcapacity and price wars, leading to massive losses for major manufacturers and calls for consolidation.

China urgently needs consolidation in the solar manufacturing industry as overcapacity and price wars are leading local companies to a race to the bottom, a major industry group said on Thursday.

Other major solar manufacturers, including Tongwei and Aiko Solar, also expect to report losses for the first half of the year. Earlier this year, Fitch Ratings warned that “Low pricing along the solar photovoltaic PV manufacturing supply chain and continued aggressive industry capacity expansion may result in lower profitability into at least 2025,” when it revised down Tongwei’s outlook to Negative from Stable. The situation among smaller solar equipment manufacturers is even more alarming.

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