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.
When you're looking for the latest and most efficient Reasons for the price drop of LONGi photovoltaic panels for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Reasons for the price drop of LONGi photovoltaic panels featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
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.
Related Contents
- Reasons for the price reduction of photovoltaic panels in the past ten years
- Reasons for the price reduction of flexible photovoltaic panels
- Analysis of the reasons for the price increase of photovoltaic panels
- Will the price of photovoltaic panels drop in the near future
- Is there a drop in the price of photovoltaic panels
- Reasons for low power generation of photovoltaic panels
- Reasons for replacing damaged photovoltaic panels
- Reasons for the growth space of photovoltaic panels
- Reasons for dismantling photovoltaic panels
- Query on the reasons for the suspension of work of Datang photovoltaic panels
- The reasons why photovoltaic panels generate electricity at low cost
- What are the reasons for the sharp drop in photovoltaic brackets