This week, one of the biggest solar panel makers of China said that it will be investing $309 million for expanding its manufacturing reach in India so as to safeguard matters complained as a growing threat to import controls in the US as well as other markets. The announcement Longi Solar Technology Ltd. was made taking into adherence the decision made by Trump administration on 24th January for imposing an additional 30% duty on the imported solar modules. According to one of the Indian Regulator, it is taking in concern a safeguard tariff of seventy percent upon the solar panels imported from Malaysia and China.
The global solar panel product is dominated by the Chinese manufacturers and their huge growth has worked wonder to enhance the adoption of solar energy by cutting down the costs.
But Europe, The United States and India complain that the exported materials being available at a low price is hurting their manufacturing capacity and thereby putting the job of thousands of people at stake.
About 10% of Longi Solar Technology Ltd.s’ sale is dependent on its market in Europe, The US and other non Chinese countries. But in an interview, strategy director of Longi- Max Xia said that he wishes to promote its sale throughout the world by the end of the running year.
He also added that fearing of trade protection in some of the countries, the company is willing to make investment in India as well as Malaysia soon. It is believed that with this intention, the Go Green initiative is likely to be achieved quite soon.