Cheap solar panels from China are all over Europe – and everyone is freaking out
Europe is installing more solar panels than ever before, thanks to a flood of cheap Chinese solar panels, driving installations by 40% last year. But it comes at a hefty cost: Local solar manufacturers are on the brink of a total collapse that could happen within weeks.
The European Union is considering what steps to take, in that some 95% of solar panels and parts used in the EU are coming from China, according to International Energy Agency data, Reuters reports.
Reap the benefits of all that green energy with containers full of Chinese solar panels, all while crushing the domestic sector and putting people out of business?
“The situation is really, really, really troublesome,” Johan Lindahl, secretary general of the European Solar Manufacturing Council (ESMC), told Politico.
European local solar panel manufacturers have reached a crisis in that they say they can’t compete with cheap imports and oversupply. Businesses are shutting down, while a “glut” of Chinese panels are sitting in warehouses around Europe, according to an earlier report from Reuters last year. The sector has warned that half of its capacity could close within weeks unless the government takes radical action – and that means tariffs.
But not everyone is happy about that. German Economy Minister Robert Habeck wrote to the EU that tariffs on Chinese imports could end Europe’s impressive expansion of green energy, making 90% of the PV market more expensive.
“I have heard that the commission may impose safeguard measures against imports of photovoltaic (PV) modules from China. I have very strong concerns about this,” the letter said, according to Reuters.
Habeck added that the move would put European companies that assemble and install solar panels using Chinese parts at risk as well.
It’s all been a bitter pill for France, which has high hopes of a European green energy reindustrialization. Germany’s solar support has been in peril due to a budget crisis, while Spain hasn’t ruled out tariffs on solar panel imports. A government official from the Netherlands told Reuters that the country “wants to cover solar PV imports with the EU’s carbon border tax.”
For its part, Italy just announced a €90 million investment in a solar panel factory in Sicily.
EU measures that are on the table include a law to fast-track permits for local manufacturers and give EU products an advantage in “future clean tech tenders.”
Electrek’s Take
Trade restrictions are no light matter – especially in that the EU targets more than 320 GW of newly installed PV capacity by 2025, and 600 GW by 2030 – and it’ll likely need Chinese PV to make that happen.
Back in September, the EU launched an investigation into the Chinese EV industry, as European companies are struggling to compete with the cheap, high-tech Chinese EV imports, made by low-cost labor, entering the EU. The EU is probing into what it says are unfair subsidies and bank lending campaigns from Beijing that fueled the outsize growth in China, with fears that China is building EV plants far beyond levels needed for domestic demand. Meanwhile, the US and Europe are tightening their rules on Chinese cars and EV parts being sold in their countries, with tariffs so high in the US that China has turned its focus on other areas, namely South America, Asia, and Europe.
Meanwhile, some European panel makers are saying that China has been doing the same thing with solar panels. “The solar industry in China has been strategically subsidized with hundreds of billions of dollars for years,” Gunter Erfurt, CEO of Swiss PV maker Meyer Burger, told Reuters.
Europe, for now, just can’t compete – and at least needs to buy some more time to catch up.
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Environment
U.S. could reach deal with Canada that avoids oil and gas tariffs, energy secretary says
HOUSTON — The U.S. could reach an agreement with Canada that avoids tariffs on imports of oil, gas and other energy resources, Energy Secretary Chris Wright said Monday.
Wright said such a scenario is “certainly is possible” but “it’s too early to say” in response to a question from CNBC during a press conference at the CERAWeek by S&P Global. The U.S. is in “active dialogue” with Canada and Mexico, the energy secretary said.
President Donald Trump has paused until April 2 tariffs on Mexican and Canadian imports that are compliant with the agreement which governs trade in North America. Trump originally imposed broad 25% tariffs on goods from both countries as well as lesser 10% tariffs on energy imports from Canada.
It’s unclear, however, how much of the oil, gas and other energy that the U.S. imports from Canada is compliant with the United States-Mexico-Canada Agreement. Wright declined to provide specifics when CNBC asked how much of those imports are USMCA compliant.
“I’m going to avoid the details for now,” Wright said. The energy secretary said, “We can get to no tariffs or very low tariffs but it’s got to be reciprocal” in an interview with CNBC’s Brian Sullivan.
Canada’s energy minister, Jonathan Wilkinson, warned last week that energy prices will rise in the U.S. if the tariffs on energy imports go into full effect.
“We will see higher gasoline prices as a function of energy, higher electricity prices from hydroelectricity from Canada, higher home heating prices associated with natural gas that comes from Canada and higher automobile prices,” Wilkinson told CNBC’s Megan Cassella in an interview.
The U.S. has been the largest producer of crude oil and natural gas in the world for years. But many refiners in the U.S. are dependent on heavy crude imported from Canada. The U.S. imported 6.6 million barrels of crude oil per day on average in December, more than 60% of which came from Canada, according to the Energy Information Administration.
Wright acknowledged that the tariffs are creating uncertainty in energy markets as negotiations continue.
“We’re in the middle of negotiations for where things are going to go with tariffs, so that feels frightening and gripping right now but this time will pass,” Wright said. “Deals will be made, we’ll get certainty and we’ll have a positive economic environment for Americans going forward.”
U.S. crude oil fell more than 1% Monday to close at $66.03 per barrel, while global benchmark Brent closed at $69.28 per barrel. Crude oil futures have pulled back substantially as Trump’s trade policy creates uncertainty and OPEC+ has confirmed that it plans to gradually bring back 2.2 million barrels per day of production beginning next month.
Apple is rolling out a notable update to Apple Maps EV Routing for Ford drivers. Starting today, Ford Mustang Mach-E and F-150 Lightning drivers can use Apple Maps EV Routing via CarPlay to plan road trips that include Tesla Superchargers – or any station that uses the North American Charging Standard (NACS) connector.
As I’ve explained before, Ford began shipping adapters CCS to NACS adapters that allow Mach-E and Lightning drivers to charge at Tesla Superchargers last year. Until today, however, Apple Maps was unaware of this change. This meant Apple Maps EV Routing would only route Mach-E and Lightning drivers to CCS charging stations, even though a route with Tesla Superchargers might’ve been more efficient.
With today’s change, Apple Maps via CarPlay will now include NACS fast charging stations, such as compatible Tesla Superchargers, in recommended route planning recommendations.
In a blog post, Ford explains:
Apple Maps EV Routing in CarPlay allows drivers to input their route and can view the estimated battery level they will have when they get to a destination, as well as suggested charging stations along the way if charging is needed. Previously, Mustang Mach-E and F-150 Lightning drivers would have to manually open another app, then enter a NACS fast charger as a destination to have it added to their route. Now, with the Apple Maps EV Routing and NACS fast charger integration, the experience will be more seamless.
How to Use Apple Maps EV Routing in CarPlay:
- Connect your Apple iPhone to CarPlay.
- Open Apple Maps, go to Settings, and confirm your preferred charging network(s) – make sure you select a NACS fast charging station, such as Tesla Supercharger. You only have to do this once.
- Enter a destination.
- Apple Maps will then calculate the estimated state of charge you will have when you get to a destination.
- If a charge is required, depending on the fastest route, it will automatically route you to a NACS fast charging station.*
This is a significant update to the Apple Maps EV Routing experience for Ford drivers. Next up on my wishlist is support for battery preconditioning when using Apple Maps EV Routing. Android Auto added this feature last October.
The new feature is available now to iPhone users running iOS 17 or later. No software update is required for your car.
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James Murdoch, a Tesla board member and friend of CEO Elon Musk, has confirmed that he sold about $13 million in stock today as the stock (TSLA) crashed.
There has been a lot of insider trading at Tesla lately, and by trading, we mean selling – cause no insider is ever buying at Tesla.
We recently reported on Kimball Musk, Elon’s brother, and Tesla’s Chief Financial Officer Taneja Vaibhav recently selling ahead of a recent drop in the company’s stock price.
Tesla’s chairwoman, Robyn Denholm, also sold $33 million worth of Tesla shares last week and over $100 million in the last 3 months.
Now, it’s James Murdoch’s turn. The Tesla board member just confirmed, through a required SEC filing, that he sold 54,776 Tesla shares for just over $13 million today:
He sold as Tesla’s stock crashed 15% today. It is now down more than 50% from its all-time high just a few months ago.
Murdoch was appointed to Tesla’s board in 2017.
He is better known as the son of media mogul Rupert Murdoch and the former CEO of 21st Century Fox from 2015 to 2019.
Murdoch was one of the Tesla board directors who was forced to return almost $1 billion in cash and stock options to Tesla as part of a settlement for over-compensation.
Electrek’s Take
Tesla insiders are unloading, and those are just the ones we know about. Public companies only have to report insider trading for board directors and listed top executives.
For the latter, Tesla purposefully only lists 3 people: Elon, Vaibhav Taneja, Tesla’s CFO, and Tom Zhu, whose role at Tesla has bit quite fluid in recent years.
Therefore, we don’t know about the dozens of other top executives potentially selling their shares right now amid a giant correction.
It’s really suspicious because there are clear top leaders at Tesla who are often on Tesla’s earnings calls, and they are not even listed, like Lars Moravy, for example.
But it’s par for the course at Tesla, which has some of the worst corporate governance I have ever seen. It’s truly shameful.
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