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6 FAQs about [Latest news on Datang photovoltaic panel suspension]
Why are Chinese solar panel manufacturers seeking a government intervention?
REUTERS/Stringer/File Photo Purchase Licensing Rights SHANGHAI, June 12 (Reuters) - Chinese solar panel manufacturers said they are seeking immediate government intervention to curb investment and industry collaboration to arrest a plunge in prices of solar cells and modules, as the industry faces overcapacity.
What happened to solar panels after Biden paused tariffs?
In the two years since the Biden administration made the decision to pause the tariffs, solar prices have cratered, and solar panel imports have surged.
Why did the photovoltaic industry fall 70%?
Gongshan Zhu, chair of the Asian Photovoltaic Industry Association, warned new companies against rushing into the sector, saying industry profits had plunged 70% due to overcapacity and falling prices, while exports were curbed by trade barriers imposed by the United States.
How many solar panels have been cancelled in China in 2023?
Between June 2023 and February 2024, at least eight companies cancelled or suspended more than 59 GW of new production capacity, equivalent to 6.9% of China's total finished panel production capacity in 2023, according to the China Photovoltaic Industry Association (CPIA).
Why did Biden pause solar panels in 2022?
Those products should have been subject to additional tariffs, but the Biden administration made an unusual decision in June 2022 to temporarily pause them for two years, to ensure that the United States would still have access to plenty of solar panels. Congress passed a resolution last year to reinstate the tariffs, but Mr. Biden vetoed it.
Why are American solar manufacturers pushing for more protections?
American solar manufacturers are pushing for further protections for their new factories against cheaply priced imports from China. Tariffs on some solar products made by Chinese companies in Southeast Asia were reinstated on Thursday after a two-year pause. Agence France-Presse — Getty Images