Power & Energy

EU removes restriction on cheaper Chinese solar products

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On a lighter note, the European Union has decided to end all the restrictions amended on the solar panel sale that came from China. The restrictions were kept in order to stop the flooding of the markets with cheaper Chinese solar panels. This decision was taken by the EU very recently to make solar energy a more feasible option.

As per the statement from the European Commission, the body that coordinates the trade policies made by EU, that the restrictive measures will be terminated from September 3rd, Monday. The report was previously published by Reuters on 24th August.

The EU amended the anti-dumping restrictions for the Chinese solar products such as panels, cells, wafers, etc back in 2013. It also extended the restriction by 18 months and then signified the end of the terms. The Chinese mass production companies will now be allowed to export their cheaper solar products to the entitled European countries without any restriction and free from duties. The price of the panels will progressively decline and hit rock bottom so that anyone can afford them for a cheaper supply of clean energy.

The EU is aiming to increase the acceptance of renewable energy among the commercial and domestic settlements so that the environment can be free from fossil fuel pollution. The ministry said, the move “will restore EU-China trade of photovoltaic to a normal market condition, will provide a more stable and predictable business environment for cooperation between the two sides’ industries, and will truly realize mutual benefit for both sides.”

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