China's Top PV Firms Agree to Self-Discipline Deal, Adopting OPEC-Inspired Quotas

Dec 9, 2024, 01:19 AM

China's solar power industry, facing challenges from declining prices and shrinking profit margins, is set to break another record for installations this year. Industry experts have noted that the sector is experiencing a severe glut and plunging prices, leading to significant losses for manufacturers. In response, more than 30 of the top solar companies have agreed to a strict self-discipline deal at the China Photovoltaic Industry Association’s annual meeting. This agreement aims to emulate the output quotas strategy used by OPEC to stabilize the market, with local media reporting that firms will receive output quotas next year. The move is seen as an attempt to end the damaging price war and recover from the industry's current struggles.