China’s unexpected move to slash incentives for solar power has sent stocks into a free fall and prompted analysts to lower forecasts for global installations this year amid expectations that a glut of excess panels would send prices tumbling.
China announced on June 1 changes to the subsidies that has underpinned its rise to become the world’s largest solar market in recent years.
IHS Markit, a market research firm, was preparing to lower its global solar installation forecast for this year by between 5 and 10 gigawatts, or up to 9 percent, analyst Camron Barati said.
The impact in China, which accounts for half the global market, could be up to 17 GW, the firm said. Read More