Europe’s solar power industry has warned, that cheap Chinese imports has pushed some EU manufacturers to the brink of bankruptcy.
Norwegian Crystals, a producer of the ingot used in solar cells, filed for bankruptcy last month. Norsun, another Norwegian solar company, has recently suspend production until the end of the year.
SolarPower Europe, a trade group for the industry, wrote to the European Commission on Monday, September 11. The letter stated, that the strong competition among Chinese manufacturers to gain market share in Europe, has pushed down the prices of solar modules by more than a quarter.
“This is creating concrete risks for companies to go into insolvency as their stock will need to be devalued,” the letter said.