Energy PV-tech Temporarily Suspends Solar Cell Production

PVTIME - On 2 February 2024, Zhejiang Energy PV Technology Co., Ltd. (Energy PV-tech, 834770.BJ), announced a temporary suspension of production of its polysilicon solar cells, with an uncertain date for resumption.

Energy PV-tech invests in and operates distributed photovoltaic power plants, develops and services them, and conducts research and development. They also produce and sell crystalline silicon solar cells.

However, the company has suspended its solar cell production due to the rapid decline in silicon cell prices, which has made Energy PV-tech's cell prices uncompetitive. This is due to the overall drop in solar cell prices in 2023.

Meanwhile, its orders have decreased due to a sharp decline in demand in overseas markets. It is estimated that the large-scale demand for replacements will not appear in the short term as the operating cycle of solar cells in PV power stations is at least 20 to 25 years.

Additionally, there are certain differences in the production process between polycrystalline silicon cells and monocrystalline silicon cells. It is uncertain whether to invest in additional equipment to convert the current polycrystalline silicon cell production line technology to produce monocrystalline silicon cells.

As a result, Energy PV-tech's production lines for solar cells will be suspended until 31 March 2024, and reopening will be contingent on the future market.

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