Solar energy market continues to suffer from ongoing disputes
China and the European Union have been embroiled in trade disputes concerning solar energy recently. The trade disputes erupted when Chinese solar panel manufacturers began to flood the European market with low-cost products. The arrival of these products helped significantly reduce the cost of solar energy systems throughout the region, but also forced some European manufacturers out of business due to their inability to provide solar panels that were as inexpensive as those coming from China.
German officials meet with Chinese officials to find solutions to trade issues
Both the European Union and China consider the trade dispute to be problematic to the solar energy market and have been working to resolve the issue effectively. This week, Germany’s Chancellor, Angela Merkel, met with the Chinese premier, Li Keqiang, in order to put an end to the problematic trade disputes. Both parties have hopes that ending these disputes may prove beneficial to the solar energy market and open up new trade opportunities throughout Europe and Asia.
Solar energy market may suffer from continued impact of disputes
Germany is working to ensure that import duties, essentially taxes levied against foreign goods, do not become a permanent part of the relationship between China and the European Union. Germany is considered a leader in the solar energy field and is well attuned to the trends that exist in the market. The inexpensive solar panels that have been coming from Chinese manufacturers have proven to be a boon that has supercharged the adoption of solar energy among consumers and businesses alike. Germany is keen to see Chinese manufacturers continue to bring their solar panels to the European market, but also wants to see European manufacturers have the opportunity to perform as well.
China works to reform native solar energy industry
China has been working to reform its native solar energy industry in an attempt to show its resolve to put an end to the ongoing trade disputes with the European Union. Part of this reform involves penalizing some of the country’s largest, but least successful solar panel manufacturers. Small companies, however, are receiving strong support from the Central Government.