China’s Solar Producers Follow OPEC Playbook to Curb Overcapacity

The biggest solar equipment manufacturers in China, which have been grappling with overcapacity, very low prices, and losses for more than a year, have taken a leaf out of OPEC’s market-management book in their efforts to curb excess capacity. OPEC has perfected the art of supply management through the decades to influence market conditions and sentiment. Whenever they feel they need to restrict supply to boost oil prices, OPEC producers – and in recent years, several non-OPEC producers led by Russia – agree to reduce production…