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China Sees Possible Second-Half Revival of Local Solar Industry

China Sees Possible Second-Half Revival of Local Solar Industry

China's solar industry may revive this half as consumption grows abroad and local demand takes off, the Ministry of Industry and Information Technology said.

Production of polysilicon, used to make solar cells, fell 25 percent in the first half to 31,000 metric tons from a year earlier, the ministry said yesterday in a statement on its website. The figure accounted for 27 percent of world output.

The China Photovoltaic Industry Alliance between companies and the state sees annual output of 80,000 tons of polysilicon and 23 gigawatts of solar panels, according to the statement. China will also install more than 8 gigawatts of solar power. Some polysilicon makers will resume output after suspensions, possibly leading to reduced imports, the ministry said.

China, with capacity to produce more than 40 gigawatts of panels, made about 11.5 gigawatts in the first half as exports slid 37 percent to 7.5 gigawatts. The top seven companies made 45 percent of output. They include Yingli Green Energy Holding (YGE) Co. and Trina Solar Ltd. (TSL), figures compiled by Bloomberg show.

While sales to Japan, the U.S. and India expanded in the period, they fell to Europe, which buys about half the exports. China agreed with the European Union last month to curb panel shipments to the region to avoid punitive tariffs.

China's 10 biggest photovoltaic companies have debt of more than 100 billion yuan ($16.4 billion), with profit margins down and financial institutions tightening credit, the ministry said.

Read more solar energy news here.

Copyright 2013 Bloomberg

Lead image: Sun on China map via Shutterstock

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