Reasons for the price drop of LONGi photovoltaic panels

Longi said the “mismatch” of supply and demand in the solar industry led to a significant drop in prices for its major products, resulting in no revenue increase even as volume sales rose.
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About Reasons for the price drop of LONGi photovoltaic panels

About Reasons for the price drop of LONGi photovoltaic panels

Longi said the “mismatch” of supply and demand in the solar industry led to a significant drop in prices for its major products, resulting in no revenue increase even as volume sales rose.

Longi said the “mismatch” of supply and demand in the solar industry led to a significant drop in prices for its major products, resulting in no revenue increase even as volume sales rose.

The world’s largest solar manufacturer slashed prices for a key component as growing capacity in the sector intensifies cost competition. Chinese company Longi Green Energy Technology Co. cut.

Longi Green Energy Technology Co., until recently the world’s biggest solar firm, said in a preliminary results filing late on Tuesday that a “mismatch” of supply and demand has led to a significant drop in prices for its major products, resulting in no revenue increase even as sales volumes rose.

Top producer of solar wafers posts loss of 5.24 billion yuan. China’s solar industry faces overcapacity that’s hit prices. Solar panel products at the Longi Green Energy Technology Co. booth.

According to a LONGi investor presentation, the price of wafers and modules dropped 50 percent in 2023, while prices for polysilicon and cells dropped by 66 percent and 55 percent.

As the photovoltaic (PV) industry continues to evolve, advancements in Reasons for the price drop of LONGi photovoltaic panels have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.

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6 FAQs about [Reasons for the price drop of LONGi photovoltaic panels]

Why did China's largest solar manufacturer cut prices?

The world’s largest solar manufacturer slashed prices for a key component as growing capacity in the sector intensifies cost competition. Chinese company Longi Green Energy Technology Co. cut wafer prices by as much as 31% on Monday. Wafers are silicon squares that are wired up and pieced together to form solar panels.

How much did Longi Green Energy lose in the first six months?

Ad Choices Help©2024Bloomberg L.P. All Rights Reserved. Longi Green Energy Technology Co. reported a net loss of 5.24 billion yuan ($739 million) in the first six months of the year as the sector struggles with overcapacity that brought prices to record low levels.

Why has the photovoltaic industry been hit?

The photovoltaic industry has been hit by various factors including price changes and trade policy adjustments this year, Longi said in a statement. The United States last month unveiled steep tariff hikes on Chinese imports including solar panels, electric vehicles and batteries.

Are low-cost solar panels a problem?

Some manufacturers that are winning bids with below-cost prices can only deliver lower-quality panels, which will hurt other producers that are investing in technology innovations and discourage them from creating better products, Zhong said. “Big companies are very distressed about this issue,” he said.

Will a slump in solar panel prices stimulate demand in Europe?

A slump in solar panel prices in China, the world’s largest producer, is expected to stimulate demand globally, particularly in Europe, which is facing an unprecedented energy crisis, according to analysts.

Why did Longi change its production plans?

Longi said it will "adjust its production plans" according to market changes. The company also cited digital technology upgrading as another reason for its production adjustment, adding that it is "firmly optimistic" about the long-term uptrend of the global photovoltaic industry.

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