China’s new draft legislation seeks to deal with solar panel glut – Renewables Now
China’s Ministry of Industry and Information Technology (MIIT) on Tuesday launched the public consultation period for a draft regulation that seeks to limit the excessive expansion of the country’s solar manufacturing capacities. The document sets out that local solar companies should refrain from establishing new photovoltaic (PV) production facilities simply for the sake of boosting capacity and instead focus on bolstering technological innovation, improving product quality, and cutting production costs. Furthermore, it increases the minimum capital ratio for both new construction and expansion projects to 30%. The prior minimum capital…
Read More