Climate Changed
Solar Prices Nosedive After China Pullback Floods Global Market
- China halting 20 gigawatts of solar projects this year
- Panel prices down 4.79% this month, may slide 35% this year
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Solar panels were already getting cheaper this year, and then China pulled the plug this month on about 20 gigawatts of domestic installations. The result was a glut of global inventories, and now prices are plunging even faster.
China, the world’s biggest solar market, on June 1 slammed the brakes on new projects that would have had as much capacity as about 20 nuclear power plants. With a global panel glut it’s a buyer’s market and developers in other countries are delaying purchases, holding out for even lower prices.