France wants to ban supply of Chinese solar panels to EU

In an attempt to save the photovoltaic industry of the Old Continent, three ministers of France will write to the European Commission to ask it to urgently close the market to Chinese imports, Report informs, citing Le Figaro.

The corresponding letter has already been prepared by the Minister of Economy, Finance, and the Recovery and Industrial and Digital Sovereignty of France, Bruno Le Maire, Minister of Energy Transition, Agnes Pannier-Ryunacher, and Minister Delegate for Industry Roland Lescure.

"China is the world's photovoltaic factory, and Europe is its warehouse. Its stock on the Old Continent, estimated at more than 200 million solar panels, continues to grow and destabilize the European market. And for good reason: it is twice its size in 2022. With an energy potential equivalent to that of 20 nuclear power plants, this reserve "currently exceeds 80 GW of electrical power", according to the Norwegian consultancy Rystad Energy, and "will reach 100GW by the end of December". This compares with 40 GW of installed capacity in 2022 and 60 GW planned for this year.

"Already unable to compete with the prices offered by their competitors in normal times, European solar panel manufacturers are in danger of being swallowed up for good by the monster sales that have just begun. In order to receive future orders, Chinese wholesalers who have imported panels into Europe are slashing prices to empty their stocks," it reads.