SMA Solar’s chief executive officer Pierre-Pascal Urbon has spoken out against uncertainty in the industry resulting from the threat of EU import tariffs being imposed on Chinese PV products.
He says that insecurity over possible tariffs, and the subsequent increase in the cost of panels exported from China, has unsettled investors causing banks to tighten lending or cancel projects.
According to the inverter manufacturer’s own estimates, European solar installations could drop by 45 percent.
“We believe that the non-European markets in the best case can compensate for the strong drop in European installations looking just at the volume, the gigawatts,” Urbon told Bloomberg News.
“Because of increased pricing pressure in the inverter segment, however, we expect the global market measured in euros to shrink by about 20 percent.”