European Union Facing Solar Panel Clash With China
Brussels had risked the reprisals from the side of Beijing just a few days back when the European Commission that is EC, launched an investigation into the accusations that China had sold solar panel of billions of pounds less to the market value. The Commission is also going to examine the complaints from a group of the companies of the solar energy that have put forward a claim that their Chinese rivals have been dumping almost up to 80 per cent of their exports in Europe only. This inquiry that is going last up to 15 months can very well also impose duties on the imports, following a similar kind of move taken by the authorities of the United States of America in the month of May.
The prices of the panel had come down by 75 per cent in the region of Europe between the year 2008 and the year 2011 as China had rapidly increased its production, according to The European Union ProSun, which is the lobby group for the companies of the solar energy. The group puts forward an argument that the only production advantage of China is the cost of labor, which accounts for about a tenth of the cost of producing one panel. Yet it also claims that the four-fifths of solar panels had sold in Europe at the time of the last year were made in China that were up from just about none 8 years ago.
The European Union that is EU has accounted for as much as 60 per cent of all solar exports of China during the last year. The solar energy companies of China had promised a trade war in the month of July when the threat of the investigation had emerged for the very first time. Apply now for 12 month loans and get funds needed in quick time.
Just a few days ago Shen Danyang a spokesman of the Ministry of Commerce of China had, uttered deep regret over the choice which was taken. He was of the view that restricting the solar panel products of China is not only going to hurt the interests of the industry of both the countries, China as well as Europe. Along with this it will also be wrecking the healthy development of the global solar and also the clean energy sector.
However the commerce as a whole qualms over new energy minister. There is anxiety over the selection of anti-wind John Hayes in the form of the energy minister while replacing the respected Charles Hendry.
The prices of the panel had come down by 75 per cent in the region of Europe between the year 2008 and the year 2011 as China had rapidly increased its production, according to The European Union ProSun, which is the lobby group for the companies of the solar energy. The group puts forward an argument that the only production advantage of China is the cost of labor, which accounts for about a tenth of the cost of producing one panel. Yet it also claims that the four-fifths of solar panels had sold in Europe at the time of the last year were made in China that were up from just about none 8 years ago.
The European Union that is EU has accounted for as much as 60 per cent of all solar exports of China during the last year. The solar energy companies of China had promised a trade war in the month of July when the threat of the investigation had emerged for the very first time. Apply now for 12 month loans and get funds needed in quick time.
Just a few days ago Shen Danyang a spokesman of the Ministry of Commerce of China had, uttered deep regret over the choice which was taken. He was of the view that restricting the solar panel products of China is not only going to hurt the interests of the industry of both the countries, China as well as Europe. Along with this it will also be wrecking the healthy development of the global solar and also the clean energy sector.
However the commerce as a whole qualms over new energy minister. There is anxiety over the selection of anti-wind John Hayes in the form of the energy minister while replacing the respected Charles Hendry.
Source...