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Homeowners are being advised that solar panels will most likely undergo a price revision shortly due to a forecast change in duty imposed by the European Commission for Chinese solar panel manufacturers.Most of the globe’s solar panel manufacturers are located in China. This is due to generous tax laws and subsidies that were implemented by the Chinese government to help support the industry. This resulted in a glut of solar panel manufacturers and products flooding the international market. So much so, that the world’s largest solar panel manufacturer, Suntech Power Holdings, also based in China, has been put into financial trouble from having too much competition.
Both the European Union and the US have been flooded with underpriced solar panels. The US has decided to put a tax on solar panels that could be as high as 47%. Europe is still making their investigations. This is most likely going to lead to a hike in solar panel prices as the industry readjusts itself. The solar panels from China are very likely to soon cost much more than they do currently. The duty imposed in the UK could be as high as 60%.
The activity of flooding a country’s market with products that are priced at below normal price is known as ‘dumping’ and this has been occurring with panels from China. They have been priced at below the price that they are sold at in their own market or below the price that it costs to make them. This is most likely related to the number of solar panel manufacturers that are currently in operation in China.
This is the second time that an enquiry has been made into solar panel prices and dumping. This time the enquiry is centred on the price of solar glass. This is likely to be a process that takes a couple of months, giving consumers enough time to make their purchases before the tax is imposed. If the European Commission doesn’t like what it finds, then duties could be imposed on the Chinese for up to five years.
Karen Hird from Solar & Green, who are solar panel installers based in Yorkshire said, "We’re telling all our customers to make the best of the current pricing. There’s never been a better time to install solar panels as now. They are most likely to rise a good deal in price in a few months. Consumers can also benefit from the income and savings that they deliver."
In 2011, solar panels and related products to the value of £18bn were imported into the European Union. There are fears that any duties imposed could affect the home market and will lead to employment losses in businesses such as commercial solar installers.
Contact Info:
Name: Karen Hird
Email: Send Email
Organization: Solar & Green LTD
Address: the vestry denholme rd
Phone: 0844 293 40 80
Website: http://www.solarandgreen.co.uk
Release ID: 7349
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