Top Solar Firm Warns Excess Capacity Risks Wave of Failures
- Longi says more than half of manufacturers may be forced out
- Solar factories are growing faster than demand for panels
Longi Green Energy Technology Co. solar panels on the rooftop of an office building in Xi'an, China.
Source: Bloomberg
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China’s world-leading solar industry could face a wave of bankruptcies if the current aggressive expansion of manufacturing capacity continues, according to the sector’s biggest player.
More than half of China’s solar manufacturers could be forced out in the next two to three years because of excess capacity, Li Zhenguo, president of Longi Green Energy Technology Co., said during a group interview Wednesday on the sidelines of the SNEC PV Power Expo in Shanghai.