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China has made a lot of solar panels, dramatically lowering prices and helping the country's clean-energy transition.
The problem is that Chinese manufacturers seem to have made too many solar panels, according to the US, the European Union, and their allies. They're now calling on Beijing to rein in the overcapacity of the panels and other goods, raising prospects of a trade war.
China's facing its own overproduction problem at home following a breakneck pace of growth in solar energy — one key pillar of the country's "new three" economic drivers. Reuters reported on Wednesday that China had installed so many solar panels that they were generating excess power that the country didn't have storage or transmission capacity for.
Such overcapacity prompted Chinese authorities to withdraw some price support for the sector, leading to fewer solar-panel installations, Reuters reported.
www.businessinsider.com
The problem is that Chinese manufacturers seem to have made too many solar panels, according to the US, the European Union, and their allies. They're now calling on Beijing to rein in the overcapacity of the panels and other goods, raising prospects of a trade war.
China's facing its own overproduction problem at home following a breakneck pace of growth in solar energy — one key pillar of the country's "new three" economic drivers. Reuters reported on Wednesday that China had installed so many solar panels that they were generating excess power that the country didn't have storage or transmission capacity for.
Such overcapacity prompted Chinese authorities to withdraw some price support for the sector, leading to fewer solar-panel installations, Reuters reported.
China made so many solar panels that even its own grid can't support all the energy produced
China doesn't have enough storage or transmission capacity for all the solar energy it's producing, Reuters reports.
www.businessinsider.com
