News

Power Utility

Nathanielle Punay

, Singapore

Published:

3 years ago

China's solar giants forced to cut prices as virus curbs demand

Costs for components like wafers and cells have fallen by 20% since 2020 started.

Chinese manufacturers that dominate nearly every step in the global solar power supply chain are being forced to slash prices as the coronavirus disrupts projects around the world.

Costs for components like wafers and cells have fallen by as much as 20% since the start of the year. They likely haven’t bottomed out yet, either, as the outlook for demand remains uncertain and new mega-factories threaten to add supply.

Pandemic has triggered a decline in prices along the solar supply chain this year.

It’s bad news for the companies that make solar components and could lead to consolidation amongst some of the smaller players in the industry.

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