Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>China just issued draft regulations to rein in solar cell production.</li><li>This shows Beijing knows and is concerned about industrial overcapacity.</li></ul>China and the West are in disagreement over claims that the East Asian giant is <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-overcapacity-dumping-manufacturing-exports-economic-woes-world-yellen-2024-4">producing too much stuff</a> and depressing global prices.<a target="_blank" rel=" nofollow" href="https://english.news.cn/europe/20240507/0606e58b4cec4bb5ac749eacbda8d567/c.html">China has pushed back</a> against this notion, saying the West is trying to contain its economic growth.But Beijing recently released a new set of draft rules that show China knows and is concerned about overcapacity too — specifically in solar cell production.On Tuesday, China's industry ministry released new <a target="_blank" class="" href="https://www.miit.gov.cn/jgsj/dzs/gzdt/art/2024/art_16a86cc6229d4cf8b52c54dd01df7a74.html">draft regulation</a> to promote "high-quality development" in the industry. The draft rules are open for public consultation until Monday.The ministry did not explicitly target excess capacity but said in its proposal that it aims to guide solar cell companies to reduce manufacturing projects that "simply expand production capacity" while improving innovation, production, quality, and reducing production costs.China's industry ministry is looking to increase the ratio of capital that shareholders must invest in projects. This could limit the speed of industry expansion and curb overproduction.The new rules come as the solar industry deals with a glut of panels following years of breakneck growth. The sector is one key pillar of the country's <a target="_blank" rel="" href="https://www.businessinsider.com/china-economy-new-growth-areas-electric-vehicles-batteries-solar-property-2024-1">"new three" economic drivers,</a> so Beijing would want it to be sustainable.<h2 id="6cb67844-d629-4984-8a27-fc784059e960">China is producing more solar panels than the world can absorb</h2>As it stands, <a target="_blank" class="" href="https://www.businessinsider.com/china-solar-panel-supply-overcapacity-power-grid-demand-support-energy-2024-5">China is producing way more</a> solar panels than its power grid can handle. There's such a huge glut of solar panels worldwide that some people are using them as <a target="_blank" class="" href="https://www.businessinsider.com/china-flood-solar-panel-cell-market-garden-fence-overcapacity-yellen-2024-4">garden fencing.</a>China's solar module manufacturing capacity nearly tripled in 2022 alone before gaining another 84% in 2023, commodities consultancy Wood Mackenzie wrote in a report in April.Ed Crooks, the vice-chairman of energy at Wood Mackenzie, called the surge "most dramatic."Last year, China — the world's largest solar energy producer — installed fewer panels than it produced, per Wood Mackenzie.The oversupply caused a plunge in solar cell prices that even Chinese manufacturers are up in arms about.In May, the China Photovoltaic Industry Association called for more mergers and acquisitions, as well as restrictions on domestic competition to control capacity.On Monday, Longi, a major Chinese solar maker, said in a <a target="_blank" rel="noopener" class="media-ui-Link_link-tVkXhPLPofs-" href="https://sns.sseinfo.com/resources/images/upload/202407/202407051955023663989150.pdf">stock filing</a> that 2024 will be a "difficult year" for the company and industry. The company laid off thousands of workers earlier this year."The entire industry does not have the ability to support further price declines in the short term," Longi said on Monday.

China basically just admitted it's also concerned about solar panel overcapacity

No expert committee has been set up for extending <keyword id="19923745" type="General" weightage="20" keywordseo="health-benefits" source="keywords">health benefits</keyword> to cover citizens aged 70 and above under <keyword id="19913233" type="General" weightage="100" keywordseo="Ayushman-Bharat" source="keywords">Ayushman Bharat</keyword>, <keyword id="22556022" type="General" weightage="20" keywordseo="Union-Minister-of-State-for-Health" source="keywords">Union Minister of State for Health</keyword> Prataprao Jadhav told the Lok Sabha on Friday. He was responding to a question on whether the government proposed to cover citizens aged 70 and above by expanding Ayushman Bharat through the launch of a <keyword id="21782708" type="General" weightage="20" keywordseo="National-Health-Claims-Exchange" source="keywords">national health claims exchange</keyword> and if an expert panel had been set up to strengthen the format of the scheme for the planned expansion. Jadhav, in a written reply, said all members of eligible families, irrespective of age, were covered under Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana. The scheme provides <keyword id="19894985" type="General" weightage="20" keywordseo="health-insurance" source="keywords">health insurance</keyword> cover of Rs 5 lakh per family per year for secondary and tertiary care hospitalisation to 55 crore individuals, corresponding to 12.34 crore families, he said. "No expert committee has been set up for extending the health benefits to cover <keyword id="19894991" type="General" weightage="20" keywordseo="senior-citizens" source="keywords">senior citizens</keyword> aged 70 and above," he stated. Responding to another question, Jadhav said 34 insurers and third-party administrators were live and approximately 300 hospitals ramping up to start sending their claims on the National Health Claims Exchange (NHCX), which aims to streamline and fasten health <keyword id="35450" type="General" weightage="20" keywordseo="Insurance" source="Orion">insurance</keyword> claim processing, as on July 21. Jadhav said the government built the NHCX gateway under the Ayushman Bharat Digital Mission. It aims to streamline and standardise health insurance claim processing, enhance efficiency in the insurance industry and improve patient experience. It serves as a gateway for exchanging health claim information among insurers, third party audit, healthcare providers, beneficiaries and other relevant entities and ensures interoperability, machine-readability, auditability and verifiability, making the information exchange accurate and trustworthy, the minister said. This system will enhance efficiency and transparency in the insurance industry, benefiting policyholders and patients, he added. Supported by the Insurance Regulatory and Development Authority of India and the General Insurance Council, the NHCX will enable standardised and faster health insurance claim processing, Jadhav said.

No panel formed for extending benefits to cover citizens above 70 under Ayushman Bharat, says govt

<ul class="summary-list"><li>Kamala Harris selected Tim Walz as her running mate.</li><li>According to someone on the vetting panel, Walz's lack of presidential ambition played a part.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-names-tim-walz-vice-president-pick-minnesota-2024-7">Vice President Kamala Harris</a>' <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-coach-kamala-harris-first-rally-2024-8">selection of Gov. Tim Walz</a> as her new running mate was influenced by his lack of ambition to become president someday, according to a member of the vetting panel.Cedric Richmond, a former Louisiana congressman who <a target="_blank" class="" href="https://edition.cnn.com/2024/08/06/politics/tim-walz-inside-harris-vp-pick/index.html">CNN said</a> formed part of a three-person committee appearing on Zoom interviews with the running mate shortlist, <a target="_blank" class="" href="https://x.com/CNNThisMorning/status/1820984677043237224">appeared on CNN</a> on Tuesday evening to discuss Walz's selection.He explained that Harris wanted someone who would put the American people first, have good chemistry with her, and understand the vice-presidential role.Richmond said, <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-family-wife-gwen-kids-photos-2024-8?utm_campaign=business-sf&amp;utm_medium=social&amp;utm_source=twitter">"Governor Walz</a> fit that mold, and he expressed that he didn't have ambition to be president."The CNN report detailed that Walz's lack of presidential aspirations was appreciated by Harris' team, which hoped to minimize potential internal drama in a possible Harris presidency, sources told the outlet.In contrast, CNN said that while <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-kamala-harris-vp-running-mate-democrat-president-2024-8">Walz</a> came across as deferential, <a target="_blank" class="" href="https://www.businessinsider.com/vice-president-candidates-reaction-tim-walz-josh-shapiro-comments-2024-8">Gov. Josh Shapiro of Pennsylvania</a>, considered a frontrunner in the Veepstakes, was perceived as overly ambitious during his vetting interview.According to CNN, this followed through to his in-person meeting with Harris, where he posed "very specific" questions about the decisions he would be involved in should they win the election.An unnamed Democratic adviser told the media outlet: "He was negotiating the job with her, while <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-kamala-harris-vp-running-mate-democrat-president-2024-8">Walz</a> was saying 'What can I do to help?'"When asked whether Walz's lack of presidential ambitions differed from Shapiro's, Richmond responded that Shapiro is talented and cares about the American people, as did other <a target="_blank" class="" href="https://www.businessinsider.com/harris-vice-president-running-mate-chemistry-schiff-2024-8">running mate contenders,</a> such as Sen. Mark Kelly of Arizona and Kentucky Gov. Andy Beshear.Neither Walz nor Shapiro responded to a request for comment from Business Insider.

Harris picked Walz partly because he said he had no presidential ambition, member of vetting panel says 

<ul class="summary-list"><li>Silver prices have soared 35% this year, hitting 12-year highs at about $32 an ounce.</li><li>Silver's rise is driven by industrial demand, especially for solar panels amid green-energy shifts.</li></ul>Record-high gold prices are in the spotlight — but it's really the yellow metal's poorer cousin, silver, that's outperforming in the price rally.<a target="_blank" href="https://markets.businessinsider.com/commodities/silver-price">Spot silver prices</a> have gained 35% this year to date, reaching 12-year highs. They're now about $32 an ounce.In comparison, <a target="_blank" href="https://markets.businessinsider.com/commodities/realtime-chart/gold-price">spot gold prices</a> are at about $2,350 an ounce but have gained just 14% so far this year.While gold's bull run has been driven by central banks' desire to <a target="_blank" href="https://www.businessinsider.com/dedollarization-usd-strong-china-pboc-central-banks-buy-gold-inflation-2024-5">diversify their assets</a> and a consumer flight to safety amid macroeconomic uncertainties — <a target="_blank" href="https://www.businessinsider.com/gold-price-china-consumers-central-bank-pboc-economy-concerns-dedollarization-2024-4">particularly in China</a> — silver's dazzling performance this year is underpinned by industrial demand.To be sure, there are industrial uses for gold, too, but as <a target="_blank" href="https://advisor.morganstanley.com/the-spooner-group/articles/investing/gold-vs-silver">Morgan Stanley</a> explained, half of all silver is used in heavy industry and technology."The fact that silver has been outshining gold in recent weeks is due mostly to its application in manufacturing," Daniela Hathorn, a senior market analyst at the online-trading platform <a target="_blank" href="https://capital.com/gold-and-silver-recover-from-last-week-s-pullback-but-face-resistance-ahead-of-us-pce">Capital.com</a>, wrote on Tuesday."Whilst it also attracts safe haven demand — even though not as much as its yellow counterpart — its industrial demand has been driving the moves higher given the resilience in <a target="_blank" href="https://fred.stlouisfed.org/series/INDPRO">manufacturing activity in the US</a>," Hathorn added.<h2 id="e5fef072-3c9d-4492-ba53-aec58d8b3d06">Silver is used in solar panels as well as general industry</h2>In particular, <a target="_blank" href="https://www.silverinstitute.org/silver-solar-technology-2/">silver is a key raw material for solar panels</a>. They're in demand amid the world's transition to sustainable energy, and China has raced to manufacture them.<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-29/china-s-silver-imports-set-to-jump-as-solar-demand-lifts-prices">Bloomberg</a> reported on Wednesday that China's silver imports hit a three-year high of 390 tons in December and then hit 340 tons in April — well above the monthly five-year average of 310 tons.China's demand for silver is so strong that domestic prices of the precious metal are higher than international prices; Bloomberg reported that this would likely lead to more imports to the East Asian nation in the coming weeks.<a target="_blank" href="https://www.silverinstitute.org/global-silver-demand-forecasted-to-rise-to-1-2-billion-ounces-in-2024/">The Silver Institute</a>, an industry association, said in January that global demand was set to outstrip supply for the fourth straight year in 2024.Other than solar panels, silver is also used in <a target="_blank" href="https://www.silverinstitute.org/silver-and-your-automobile/">electronics, as catalysts in industrial processes, and in car parts</a>.<h2 id="0654f5db-ded6-4bba-8ea6-70a92db686d3">China is overproducing solar panels</h2>Solar panels are a sore spot between the West and China.The US, Europe, and their allies <a target="_blank" href="https://www.businessinsider.com/china-economy-overcapacity-dumping-manufacturing-exports-economic-woes-world-yellen-2024-4">accuse China of unfair trade practices</a>, including making and exporting so many solar panels — among other goods — that it's impacting their economies.Beijing has pushed back on the West's claims of overcapacity, saying they're aimed at containing China's economic growth.To be sure, there isn't overcapacity and overproduction in all sectors of China's industry, as a <a target="_blank" rel=" nofollow" href="https://www.bloomberg.com/news/articles/2024-04-02/us-europe-gripes-on-china-overcapacity-aren-t-all-backed-by-data?srnd=all">Bloomberg analysis</a> in April found. The problem is mainly in sectors in which China already had the upper hand over the West, such as lower-tech goods and building materials.China's production of solar panels and batteries also exceeds the demand for them. But the competition doesn't extend to a key emerging area of contention: electric vehicles.The West's hawkish moves toward China now follow the East Asian giant's breakneck industrialization to its position as the factory of the world over the past four decades. That quick ascendance wiped out jobs and decimated communities elsewhere — a phenomenon three researchers termed "<a target="_blank" rel="" href="https://www.businessinsider.com/china-shock-explainer-us-economy-trade-dumping-supply-glut-yellen-2024-4">China shock</a>."

Silver price gains are outshining gold's thanks to China's overproduction of solar panels

<ul class="summary-list"><li>Germany has installed more solar capacity than consumer demand requires, SEB Research found.</li><li>During peak solar production hours, producers have taken a 87% price cut in the past 10 days.</li></ul>Sunny days in Germany mean gray clouds for solar profitability as the nation's dive into renewables has left it with too much energy.According to a note from <a href="https://research.sebgroup.com/macro-ficc/reports/49776" target="_blank" rel="noopener">SEB Research</a>, in the past 10 days, solar producers have had to take an 87% price cut during production hours. In fact, when production peaks, prices have slid well below zero.On average, the price received was 9.1 euros per megawatt-hour, significantly under the 70.6 euros paid during non-solar-power hours."This is what happens to power prices when the volume of unregulated power becomes equally big or bigger than demand: Prices collapse when unregulated power produces the most," the Swedish bank wrote on Tuesday.Last year's record wave of solar installations are what's driving Germany's price "destruction" as inventory outpaces consumption. While total solar capacity topped 81.7 gigawatts by 2023's end, demand load only reached 52.2 gigawatts, noted SEB chief commodities analyst Bjarne Schieldrop.The difference between the two actually widens even more in the summer, a season of peak production and lower demand. This also means that consumers are not necessarily benefiting from the low prices, as they typically consume more energy in non-solar hours. Unless new installations are spurred on by subsidies or power purchase agreements, oppressed profitability could eventually halt Germany's solar expansion, Schieldrop said. Instead, focus is likely to move onto improvements that will make more use of the energy produced, such as investments in batteries and grid infrastructure."This will over time exhaust the availability of 'free power' and drive solar-hour-power-prices back up," Schieldrop wrote. "This again will then eventually open for renewed growth in solar power capacity growth."The supply-demand imbalance is neither a new issue for Germany, nor is the country alone in experiencing it. The European market has raced to install solar capacity through last year, a move made urgent after Russia cut off its energy supplies to the continent.A European green-energy-supply glut — further extended by wind turbine and nuclear expansions — has <a href="https://markets.businessinsider.com/news/commodities/european-electricity-prices-negative-green-energy-wind-solar-renewable-demand-2023-7#:~:text=European%20electricity%20prices%20tumble%20into%20negative%20territory%20amid%20glut%20of%20green%20energy&amp;text=Electricity%20prices%20in%20Europe%20fell,in%20an%20abundance%20of%20supply.">triggered previous instances of negative price dips</a>.In reality, this doesn't mean that consumers are reimbursed to use electricity, as they're not paying raw market price. Instead, rates are typically agreed on beforehand.

Germany has too many solar panels, and it's pushed energy prices into negative territory

<ul class="summary-list"><li>Russian naval ships left Cuba on Monday after a five-day official visit.</li><li>The Kazan submarine appeared to have visible damage, including panels falling off, an analyst said.</li></ul>One of Russia's newest and most advanced submarines, which just left Cuba, appears to be "falling apart" and to have damage to its hull, an open-source-intelligence analyst said.Marijn Markus, a managing consultant at Capgemini, shared four photos of the nuclear-powered Kazan in a LinkedIn <a target="_blank" href="https://www.linkedin.com/posts/marijnmarkus_cuba-usa-military-activity-7208526934681530368-GugJ/?utm_source=share&amp;utm_medium=member_ios">post</a> on Monday.Markus said it appeared the sub's soundproofing panels were "falling off" the front part of the submarine's hull. He said that would make the vessel "very" loud underwater and compromise its stealth capabilities.He also pointed to what he described as a "gaping" hole at the sub's midsection."While docked, Russian divers were seen around the sub, presumably trying to repair the tin tub," he said.Markus didn't immediately respond to a request for comment from Business Insider.However, military experts told BI that the damage seen in the photos is common and probably wouldn't affect the sub's operational capabilities.Richard Kouyoumdjian Inglis, an officer in Chile's naval reserve, told BI that tiles are made of rubber and can get loose and fall off.Losing a lot of the tiles would make the sub easier to find, Inglis said, but the photos showed only a few tiles were missing, which wouldn't be enough to make a difference."Russian naval vessels are not state of the art and sometimes are not well maintained, but that does not mean something catastrophic will happen," he said.John Hardie, the deputy director of the Russia Program at the Foundation for the Defense of Democracies, told BI that these tiles falling off is a "quite common" problem for all navies, including the US Navy.Meanwhile, Mark C, a former Royal Navy submariner who declined to provide his last name, citing work-related crossovers, said the vessel appeared to have some operational wear and tear but would be capable of performing its role."So it's very possible it will continue its exercises," he told BI.The Kazan, along with three Russian surface ships, left Havana's port in Cuba on Monday after a <a target="_blank" href="https://www.businessinsider.com/russia-sends-warships-cuba-global-power-black-sea-losses-us-2024-6">five-day official visit</a> that included planned military drills in the Atlantic, <a target="_blank" href="https://apnews.com/article/russia-military-warships-caribbean-cuba-venezuela-e8a9d4342e346e17b05a567e7ad9d384">The Associated Press reported</a>.The fleet's next destination is unclear, though US officials said a few days ago it could stop in Venezuela, the AP reported.The US and its Western allies have been <a target="_blank" href="https://www.businessinsider.com/russian-submarine-in-cuba-us-nato-worried-about-for-years-2024-6">concerned</a> about the relatively new Kazan class of submarines for years, citing its ability to strike targets on land and at sea with little advance warning.An unnamed US official said Russia sending warships to Cuba was an attempt to show that its navy is still a global power despite the heavy losses it's sustained during the war with Ukraine, the AP <a target="_blank" href="https://www.businessinsider.com/russia-sends-warships-cuba-global-power-black-sea-losses-us-2024-6">reported</a> earlier this month.

A Russian submarine that just left Cuba appears to be 'falling apart' with its soundproofing panels falling off, analyst says

<ul class="summary-list"><li>US solar companies accused Chinese firms in Southeast Asia of dumping cheap solar panels on the market.</li><li>A glut of solar panels has cut prices in half in the past year to as low as 10 cents per watt.</li></ul>The world is awash in solar panels after Chinese-owned firms flooded the market with cheap exports.Now, seven US solar companies are fighting back against what they say is a dire threat to <a target="_blank" href="https://www.businessinsider.com/how-georgia-became-green-manufacturing-capital-2024-3">America's efforts to build up a manufacturing sector of its own</a>.Companies including Qcells, First Solar, and Swift Solar on Wednesday asked the Biden administration to slap tariffs on solar cells from four countries in Southeast Asia. The US solar companies allege that Chinese-owned firms operating in Cambodia, Malaysia, Thailand, and Vietnam are illegally undercutting the market.The request follows an unprecedented wave of imports from the region last year. Those four countries combined accounted for about 80% of US solar panel imports during the second half of 2023, <a target="_blank" href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/extreme-dependence-us-solar-panel-imports-boom-to-record-54-gw-in-2023-80448513">according to S&amp;P data</a>. There is now an 18-month supply of solar panels sitting in warehouses, and prices have been cut in half in the past year to as low as 10 cents per watt. In Germany, panels are so cheap that they're <a target="_blank" href="https://www.businessinsider.com/china-flood-solar-panel-cell-market-garden-fence-overcapacity-yellen-2024-4">being used to line garden fences</a>."In the past, we've been dependent on foreign oil from our adversaries," Tim Brightbill, a partner at Wiley Rein LLP representing the solar companies, told reporters. "We should not make the same mistake with respect to solar power. Solar was invented here. It was perfected here. There is no reason why America should be dependent on Chinese companies."The petition by US solar companies comes at a critical time for President Joe Biden. On the campaign trail, he's touted how his policies to tackle the climate crisis are creating jobs. More than $111 billion worth of investment has been announced<a target="_blank" href="https://e2.org/announcements/"> in renewable energy manufacturing projects alone</a>, largely fueled by tax breaks in the Inflation Reduction Act.But US solar makers say their businesses can't compete without stronger safeguards against China, which is outpacing US investment by hundreds of billions of dollars a year. CubicPV, a Massachusetts-based company, in February canceled plans for a new factory and cut its workforce in half, <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/electric-power/020924-bill-gates-backed-solar-upstart-cancels-us-factory-in-reshoring-gut-check">citing the collapse in solar prices.</a>Industry <a target="_blank" href="https://www.woodmac.com/press-releases/china-dominance-on-global-solar-supply-chain/">analysts estimate that China accounts</a> for more than 80% of global solar production, with much of the rest occurring in Southeast Asia and funded by Chinese-headquartered firms.US trade policy blocks solar panel imports directly from China. But the Commerce Department <a target="_blank" href="https://www.commerce.gov/news/press-releases/2023/08/department-commerce-issues-final-determination-circumvention-inquiries">last year determined</a> that five Chinese companies were shipping products through Southeast Asian countries to avoid steep taxes at the US border. Despite the findings, the Biden administration held off on imposing tariffs because they will be reinstated in June when a two-year waiver expires. That waiver was initially implemented to ensure the US could keep expanding solar power to meet climate goals while domestic manufacturers built up their operations.But in recent weeks, administration officials, <a target="_blank" href="https://www.youtube.com/watch?v=S-y3YnAlU1o">including Treasury Secretary Janet Yellen,</a> have said the US is evaluating new strategies to counter China's dominance over green technology, including tariffs.The petition by US solar companies — known as an anti-dumping and countervailing duty case — could lead to that. It kicks off a yearlong investigation by the US Commerce Department and International Trade Commission. The agencies will look at solar subsidies in Southeast Asian countries, as well as subsidies from the Chinese government. The probe will help determine whether solar panels were sold in the US at prices below the cost of production.China, for its part, has dismissed the concerns. After Yellen met with Chinese Premier Li Qiang in April, his office <a target="_blank" href="https://www.nytimes.com/2024/04/19/business/chinese-export-surge-solar-boom.html">told The New York Times</a>: "The development of China's new energy industry will make an important contribution to the worldwide green and low-carbon transition."

The US is preparing to hit back at China's glut of cheap solar panels by targeting its allies

<ul class="summary-list"><li>China has produced an excess of solar panels, causing overcapacity issues domestically and abroad.</li><li>The US, the European Union, and China are facing challenges because of the glut of solar panels.</li></ul>China has made a lot of solar panels, dramatically lowering prices and helping the country's clean-energy transition.The problem is that Chinese manufacturers seem to have made <a target="_blank" href="https://www.businessinsider.com/china-flood-solar-panel-cell-market-garden-fence-overcapacity-yellen-2024-4">too many solar panels</a>, according to the US, the European Union, and their allies. They're now calling on Beijing to <a target="_blank" href="https://www.businessinsider.com/china-shock-explainer-us-economy-trade-dumping-supply-glut-yellen-2024-4">rein in the overcapacity</a> of the panels and other goods, raising prospects of a trade war.China's facing its own overproduction problem at home following a breakneck pace of growth in solar energy — one key pillar of the country's <a target="_blank" href="https://www.businessinsider.com/china-economy-new-growth-areas-electric-vehicles-batteries-solar-property-2024-1">"new three" economic drivers</a>. <a target="_blank" href="https://www.reuters.com/business/energy/chinas-blistering-solar-power-growth-runs-into-grid-blocks-2024-05-22/">Reuters</a> reported on Wednesday that China had installed so many solar panels that they were generating excess power that the country didn't have storage or transmission capacity for.Such overcapacity prompted Chinese authorities to withdraw some price support for the sector, leading to fewer solar-panel installations, Reuters reported.China was setting up solar panels at a rapid pace in the first quarter of 2024, with the installation rate jumping by more than one-third year on year, according to official data. But this growth was much slower than in the 154% surge in the same quarter of 2023.As of March this year, China — the world's largest solar-energy market — had installed <a target="_blank" href="https://www.gov.cn/lianbo/bumen/202404/content_6946830.htm">660 gigawatts</a> of capacity. The US, meanwhile, ended 2023 with <a target="_blank" href="https://www.seia.org/solar-industry-research-data">179 gigawatts</a>, enough to power 33 million American homes.<h2 id="44870cd7-3e4f-4538-8a4f-f8d96b274a15">China's solar-panel overcapacity may be exported</h2>A <a target="_blank" rel=" nofollow" href="https://www.bloomberg.com/news/articles/2024-04-02/us-europe-gripes-on-china-overcapacity-aren-t-all-backed-by-data?srnd=all">Bloomberg analysis</a> in April found that Chinese manufacturers were producing more solar panels than people wanted to buy domestically,Given the oversupply at home, this development points to one possibility that won't be welcomed by the West: China continuing to dump its excess solar panels on the international market.Chinese manufacturers are feeling the heat from solar-panel overcapacity, too.In March, <a target="_blank" rel=" nofollow" href="https://www.bloomberg.com/news/articles/2024-03-19/longi-layoffs-speed-shift-in-solar-production-away-from-china">Longi Green Energy Technology</a>, the world's largest solar-cell manufacturer, announced it was laying off thousands of workers amid overcapacity and low prices.China's solar-panel overcapacity is so bad that the China Photovoltaic Industry Association is calling for more mergers and acquisitions, as well as restrictions on domestic competition to control capacity, as it said in a post on its official <a target="_blank" href="https://mp.weixin.qq.com/s/HYtcKQ-9RLARZNkRM3Aj7w">WeChat</a> account on Tuesday.Earlier this month, US President Joe Biden announced he would <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/14/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices/">double tariffs on Chinese solar-cell imports</a> from 25% to 50%.<a target="_blank" href="https://english.news.cn/europe/20240507/0606e58b4cec4bb5ac749eacbda8d567/c.html">China has pushed back</a> against the West's idea of industrial overcapacity. Beijing says the bloc is trying to contain its economic growth.<h2 id="6a9de6c9-0378-4c75-a4ba-972b729ed56e">Germany's energy prices are under pressure from too much solar energy</h2>It's not just China getting hit by an excess of solar energy.<a target="_blank" href="https://markets.businessinsider.com/news/commodities/solar-panel-supply-german-electricity-prices-negative-renewable-demand-green-2024-5">Germany</a>, too, has been producing so much solar energy that energy prices have fallen into negative territory when output peaks.But experts say these are just bumps in the world's energy transition away from fossil fuels to green energy, which, in its next phase, will focus on optimizing supply and demand."Every country in the world that is installing a lot of renewables and then facing the challenges that arise from all this variable intermittent generation is searching for smart ways, intelligent AI-enabled or at least model-backed approaches to distributing this power and using it in the most efficient and effective way," David Fishman, a senior manager at the economic consultancy The Lantau Group, told Reuters."Certainly, that's where China is heading," he added.

You Searched For "panel" and got 8 results

China basically just admitted it's also concerned about solar panel overcapacity

Huileng Tan

No panel formed for extending benefits to cover citizens above 70 under Ayushman Bharat, says govt

PTI

Harris picked Walz partly because he said he had no presidential ambition, member of vetting panel says

Joshua Nelken-Zitser

Silver price gains are outshining gold's thanks to China's overproduction of solar panels

Huileng Tan

Germany has too many solar panels, and it's pushed energy prices into negative territory

Filip De Mott

A Russian submarine that just left Cuba appears to be 'falling apart' with its soundproofing panels falling off, analyst says

Thibault Spirlet

The US is preparing to hit back at China's glut of cheap solar panels by targeting its allies

Catherine Boudreau

China made so many solar panels that even its own grid can't support all the energy produced

Huileng Tan

Popular Keywords

Buying Guides