The price of solar panels is set to plunge

TL;DR

Three leading Chinese module manufacturers are bumping up January forecasts, according to Shanghai Metals Market, which didn’t identify its sources.The world is racing to fight climate change, but accessing solar panels has been a challenge in some markets including the US.Solar demand has been growing for several years, but manufacturers were hamstrung in 2021 and 2022 by a rare stretch of increasing material costs for polysilicon — a key material for most panels.Read: Zimbabwe proposes incentives for R17-billion in solar projectsBut those problems are rapidly fading.Read: Scale of SA’s green energy goal: 166 million solar panelsWafer costs fell as much as 21% this week, with some manufacturers cutting activity to as low as 55% as their profitability is at risk, the China Silicon Industry Association said in a statement on Thursday."

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