COVID 19 Impact on Module Price

//COVID 19 Impact on Module Price

COVID 19 Impact on Module Price

Solar PV

COVID-19 outbreak which started from China, has infected more than 550,000 people. Its spread has left businesses around the world counting costs.

The majority of the U.S. and the world’s solar panel production hails from China. For weeks no one was going to work, but now slowly workers are returning. Manufacturers are not operating at full capacity which can delay production targets.

This can lead to pausing and delays of large products, an increase in solar panel prices, and companies not being able to fulfill installations. Battery production will also affected, as China is the top producer of these, as well. The outbreak has created a shortage of solar wafers and module glass. So it become harder to build the solar panels. For companies that want to finish solar installations within three months before summer begins, demand and prices will rise.

The U.S. solar companies cant do anything related to the supply chain issue from china but they can temporary switch to local manufacturers. Companies like Tesla and Panasonic have large footprints in the United States. However, as demand increases, prices will definitely go up.

By |2020-04-01T10:04:13+00:00April 1st, 2020|News/Stories|0 Comments
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