November 28, one of the world’s three major international rating agency Fitch Ratings (Fitchratings) warned of low prices caused by Chinese competition, and major European countries to cut subsidies mean that the European photovoltaic solar energy industry is facing severe tests, there better technology and carbon tax to help solar power more competitive before, this situation will not improve.
Industry investment in order to prevent loss of control leading to foam and cut government spending, including Britain and Germany, including several European countries have cut subsidies for solar power, Italy and other countries are also limited by the maximum reduction in subsidies for solar installations.
Fitch Ratings, said: “the next 2-3 years, solar power industry in Europe may face severe challenges.”
“China solar panel manufacturers as well as significant expansion caused oversupply of PV subsidy reduction caused by weak demand, will in the short term solar panel manufacturer in Europe a great impact.”
Although the renewable energy industry will cut the amount of subsidies, but Fitch Ratings said that as many countries will focus on the development potential, such as offshore wind power and other larger projects, solar photovoltaic power generation projects face the biggest reduction in subsidies.
Fitch Ratings said the solar industry may start to recover in 2013.
“We believe that in 2013 the third phase of the implementation of the European carbon trading scheme is essential for the development of solar energy.”
By that time, public institutions and other large enterprises will have to buy carbon emission rights, rather than the present free of charge. Fitch Ratings said that it will effectively reduce solar power generation and fossil fuel power generation cost differences.
“We believe that solar panel power in the next 3-5 years, technological advances will also help improve efficiency, reduce cost difference if the global economic downturn, the situation has improved, oil and gas prices remain high, then the cost difference is expected to decline further .
European PV solar industry is facing severe challenges
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November 28, one of the world’s three major international rating agency Fitch Ratings (Fitchratings) warned of low prices caused by Chinese competition, and major European countries to cut subsidies mean that the European photovoltaic solar energy industry is facing severe tests, there better technology and carbon tax to help solar power more competitive before, this situation will not improve.
Industry investment in order to prevent loss of control leading to foam and cut government spending, including Britain and Germany, including several European countries have cut subsidies for solar power, Italy and other countries are also limited by the maximum reduction in subsidies for solar installations.
Fitch Ratings, said: “the next 2-3 years, solar power industry in Europe may face severe challenges.”
“China solar panel manufacturers as well as significant expansion caused oversupply of PV subsidy reduction caused by weak demand, will in the short term solar panel manufacturer in Europe a great impact.”
Although the renewable energy industry will cut the amount of subsidies, but Fitch Ratings said that as many countries will focus on the development potential, such as offshore wind power and other larger projects, solar photovoltaic power generation projects face the biggest reduction in subsidies.
Fitch Ratings said the solar industry may start to recover in 2013.
“We believe that in 2013 the third phase of the implementation of the European carbon trading scheme is essential for the development of solar energy.”
By that time, public institutions and other large enterprises will have to buy carbon emission rights, rather than the present free of charge. Fitch Ratings said that it will effectively reduce solar power generation and fossil fuel power generation cost differences.
“We believe that solar panel power in the next 3-5 years, technological advances will also help improve efficiency, reduce cost difference if the global economic downturn, the situation has improved, oil and gas prices remain high, then the cost difference is expected to decline further .