The price reduction on the industrial chain has brought very obvious operational pressures to the companies. Judging from the quarterly reports, the losses of these companies have increased, and the net profits of these leading PV companies in Q1 have all declined year-on-year.
Residential solar representatives dispute the claim that the industry is in trouble; though installations will decline in 2024, the number of homes with rooftop solar will increase from 4 million today to 10 million by 2030, according to Stephanie Bosh, vice president of communications for the Solar Energy Industries Association.
Walburga Hemetsberger, chief executive of SolarPower Europe, said she was aware that others in the sector would also be petitioning the commission. “We all agree that the unchecked price drops are a critical risk for the sector, and EU leaders must take urgent action.” Copyright The Financial Times Limited 2024.
BRUSSELS, Sept 11 (Reuters) - Europe's solar power industry warned on Monday of a "precarious" situation for European solar photovoltaic (PV) manufacturers as solar PV prices reached record lows.
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Europe’s solar power industry has warned that a glut of cheap Chinese imports has pushed some manufacturers to the brink of bankruptcy, hampering the EU’s efforts to boost local production of green technologies.
Since the company, not the consumer, owned the solar panels, SolarCity could claim the hefty 30% tax credit for solar panels the government approved in 2005. It then took those tax credits and sold them to companies like Google or Goldman Sachs who, unlike SolarCity, were making a profit and so owed money on their taxes.