Overcapacity Hits Profitability of China’s Solar Panel Makers

The booming solar panel manufacturing in China has led to losses for the major producers who have been forced to sell their products at below-market prices. The Chinese solar panel market remains oversupplied and this glut could last up to two more years, according to Longi Green Energy Technology. The major PV panel producer told analysts at Citi and Daiwa Capital that China’s solar panel prices aren’t expected to exceed costs anytime soon. “Industry-wide losses will persist amid oversupply,” Citi Research analysts wrote…