European trade commissioner Karel De Gucht described the agreement, setting the panel price at €0.56 ($0.74) per watt as “an amicable solution.” The settlement still needs European Commission approval, CNN reports.
The deal angered European solar panel makers. Meanwhile in China, industry consolidation is likely to continue as predicted, with the makers of the cheapest panels falling by the wayside while big companies like Trina benefit, the New York Times reports.
The agreement will also limit Chinese solar panel sales in Europe, forcing the manufacturers to push harder for sales in the US, Japan and at home, Reuters says. IHS analyst Glenn Gu said shipments of Chinese panels to the US could reach 2 GW this year.
Tamar Wilner is Senior Editor at Environmental Leader PRO.