The price of photovoltaic panels has fallen to minimum

by   CIJ News iDesk V
2024-05-16   10:43
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The price of photovoltaic panels worldwide is now at a historic low, says Mirel Jarnea, manager at LONGi. But this can affect the quality of the equipment.

"The price of the panels has nowhere to fall, it is at a historic low, at production costs. This is because the main producer of panels, China, bet on a large amount of export in a very short time, which did not happen, a lot of production facilities were built, and the production capabilities in China started to cannibalize each other," said Mirel Jarnea, business development manager for Romania of the Chinese company LONGi, the largest producer of solar panels in the world.

"This year and next year will be very interesting. Our forecast is that 50 percent of PV panel manufacturers globally will disappear, either go bankrupt or be swallowed up by other larger companies. The company I represent will endure, because we are on cash for a long time, but we don't know what will happen to the others," he added.

Source: Profit.ro

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