Energy
China’s Solar Industry Looks to OPEC for Guide to Survival
- Firms to receive output quotas next year, local media report
- Sector has been struggling with severe glut, plunging prices
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China’s solar equipment manufacturers are learning they need to exercise restraint to survive.
More than 30 of the top companies signed up to a program of self-discipline at the China Photovoltaic Industry Association’s annual meeting last week, in an agreement fashioned after the way the Organization of Petroleum Exporting Countries manages its oil supply. The firms will receive quotas for how much they can produce next year, based on their existing market share and capacity as well as expected demand, according to local media.