The price of solar panels has dropped to 13 yuan

Why are China's solar panels so expensive?

China accounts for 80 per cent of solar module production capacity after years of subsidies, driving oversupply that has triggered a collapse in global prices and provoked import duties from trading partners to stave off being swamped by low-cost equipment.

What happened to solar panels in China?

Solar companies cut costs and prices sharply to maintain market share. That led to a few low-cost survivors while many other competitors were driven out of business in China and around the world. The deserted blue-walled factory of Hunan Sunzone, left, which once made solar panels in Changsha, China.

Why are Chinese solar companies slashing prices?

Chinese manufacturers are competing for customers by cutting prices far below their costs, and still keep building more factories. The price slashing has taken a severe toll on China’s solar companies. Stock prices of its five biggest makers of panels and other equipment have halved in the past 12 months.

Is China's solar panel industry in upheaval?

The country’s solar panel exports, measured by how much power they can produce, jumped another 10 percent in May over last year. But China’s solar panel domestic industry is in upheaval. Wholesale prices plummeted by almost half last year and have fallen another 25 percent this year.