End of EU of trade controls for Chinese solar panels sparks fears of glut on market.
Chinese solar panels will no longer be subject to trade controls such as minimum prices in the European Union, the European Commission announced in its official journal. The trade restrictions, introduced in 2013 to shield the European Union’s solar power market from cheaper Chinese imports, expired on 3 September, the Commission said. According to news agency Reuters, European renewable power expansion goals are one of the rationales behind lifting controls. While the Chinese government welcomed the move as an example of successful trade diplomacy, European solar panel producer lobby group EU ProSun said the change in policy would devastate the continent’s industry. While European solar power companies that import and install panels hope the cheaper products will boost their business, solar panel manufacturers are considering taking legal action at the European Court of Justice against the lifting of measures.
European Commission/Reuters/Clean Energy Wire