And that’s not all. As the AP tells it, both Europe and the U.S. are mad at the way subsidized Chinese manufacturers of solar panels are putting their subsidized manufacturers out of business, and are threatening to crack down:
In July, a group of 25 producers of solar gear including companies from Germany, Italy and Spain filed an anti-dumping complaint with the European Union.
That alarmed Chinese companies, which warned Beijing would retaliate, possibly triggering a trade war.
“Over 60 percent of products are exported to Europe,” said Wang Shuai, a spokeswoman for Yingli. “If the anti-dumping measures really take effect in Europe, that would be a fatal blow to the industry.”
At the same time, a new competitive threat is emerging: Korean companies such as industrial giant Hyundai that are pouring into the industry.
In 2010, Korea’s Hanwha Chemical Corp. bought 49.9 percent of Solarfun Power Holdings, China’s sixth-largest solar panel producer by volume.
“The Koreans came late to the game but have deep pockets,” Haugwitz* said. “They don’t want to let this opportunity slip through their hands.”
Afterwords
I know I’ve written this story before, but it’s still true!
*Frank Haugwitz, identified by the AP as “a renewable energy consultant in Beijing.”
