Global solar equipment manufacturing industry is in deep crisis of overcapacity
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However, the financial crisis and economic crisis have made the financing of solar energy development plans difficult. Many development plans have been forced to postpone, squeezing or even canceling. The world's largest solar market Spain installed a total of 3,000 megawatts of new solar power capacity last year. Last fall, the country announced that the annual installed capacity of solar energy will be limited to about 400 megawatts in the next few years.
The situation in Spain has a symbolic significance in the global solar energy development, and the production capacity of solar energy equipment manufacturing industry has also fallen into a serious surplus. The US high-tech market research company estimates that half of the solar panels produced worldwide this year may enter inventory. This trend is not only limited to solar panels, but all the chains in the solar equipment manufacturing industry will experience similar conditions. It also said that global solar cell capacity will surge by 56% this year, while sales of solar panels will shrink by 17%. Many experts believe that the excess capacity of the solar equipment manufacturing industry will be difficult to digest before 2011 at least.