The European Union has made good on its promise and
warnings to Chinese solar panel makers. The EU has kicked off an investigation
into Chinese solar panel companies on allegations of dumping made by a group of
European solar firms.
The complaints of dumping have been led by Germany's
SolarWorld, who have said that the Chinese companies have been selling below
cost in Europe to grab market share and depressing prices. This practice is
known as `dumping.'
Some of the companies who are under the EU scanner are
Yingli Green Energy, Suntech Power Holdings Co Ltd, Trina Solar Ltd and
Canadian Solar Inc.
Earlier in July, producers of the solar panels in
China had warned that any investigations would trigger off a trade war. They
had even called on their government to back them against any such probe.
However China's response to the news of the
investigation was subdued.
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"China expresses deep regret," Ministry of
Commerce spokesman Shen Danyang said in a statement.
"Restricting China's solar panel products will
not only hurt the interests of both Chinese and European industry, it will also
wreck the healthy development of the global solar and clean energy
sector," said Shen
Shen urged the EU to, ""seriously consider
China's position and proposals, and to resolve friction over solar panel trade
through consultations and cooperation."
China exports more than $25 billion worth of solar
panels to the European Union in 2011 and has grown rapidly over the years.
But recently it has been struggling with excess
capacities and depressed demand.
JA Solar Holdings Co., Ltd. (ADR)(NASDAQ:JASO) plunged
0.032 (-3.67%) to $0.838, Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) lost
0.040 (-4.87%) to $0.78, Trina Solar Limited (ADR)(NYSE:TSL) fell 3.34% to
$4.05. LDK Solar Co., Ltd (ADR)(NYSE:LDK) slid 4.14%.
Among
the gainers, Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) soared 6.50%, SunPower
Corporation(NASDAQ:SPWR) rose 5.20%.
There are a great deal of different types of solar panels available in the marketplace today. Portable solar panels have also turn out to be extremely popular during the recent years with campers, hikers, and anybody who needs energy away from their homes.
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