Rystad Power reveals it European warehouses at present host about 40 GW of Cmade in hinese photo voltaic panels.

The Norwegian consulting firm says that the saved photo voltaic panels are value about €7 billion. It famous that photo voltaic module imports from China continued to extend this yr, regardless of excessive stock ranges.

“Imports in January had been 17% larger in comparison with 2022, with February rising by 22%, March rising by 51%, April by 16%, and Might rising by 6% final yr,” defined Rystad Power. “If the present stage of imports continues, 2023 might be a report closing yr for imports and inventories. Annual imports look to hit 120 GWdc, greater than the anticipated put in capability of 63 GW (DC).

Rystad Power stated Europe is “determined” to get PV elements at inexpensive costs. It warned that European-made merchandise will not be instantly out there.

“Though efforts are underway to construct a dependable photo voltaic provide chain in Europe, the demand for panels as we speak implies that leaders can not wait till 2025 or later to purchase in Europe,” stated Marius Mordal Bakke, senior provide chain analyst at Rystad Power.

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