Following the lead of several US solar panel makers, European solar makers are set to launch a complaint with the European Commission accusing China’s solar panel makers of selling solar PV cells below cost in the European Union. Germany’s SolarWorld, which rode point on the US complaint, is also leading the European version, according to the Financial Times.
This is a much bigger deal for China’s solar makers because EU solar installations grew by about 10x more than US solar installations. Solar makers Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), LDK Solar Co. Ltd. (NYSE: LDK), Trina Solar Ltd. (NYSE: TSL), Suntech Power Holdings Co. Ltd. (NYSE: STP), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), and JinkoSolar Holding Co. Ltd. (NYSE: JKS) are all down more than -3% today.
China has threatened to hit back at any European complaint by launching an investigation of its own into sales of polysilicon wafers to Chinese buyers by European makers. Chinese officials launched just such an investigation against US polysilicon providers last week at the instigation of GCL-Poly Energy Holdings Ltd. (OTC: GCPEF), LDK Solar, and Daquo New Energy Corp. (NYSE: DQ).
And, again as in the US, small companies that install solar PV systems in Europe oppose the anti-dumping action by saying that it will cost far more installation jobs than any number of jobs it saves.
The biggest loser among the Chinese makers today is Yingli Green Energy, down about -10.5% at $2.04 after posting a new 52-week low of $2.03. The company’s previous 52-week range was $2.22-$7.70.
LDK Solar also touched its 52-week low of $1.54 today. The company’s range is $1.54-$7.21.
JinkoSolar is trading at $2.65, down -3.6%, after posting a new 52-week low of $2.65. The previous range was $2.70-$23.53.