The abstract subsidy rules are expected to be released before the end of September. According to a Shanghai Stock Exchange reporter, a source familiar with the Sino-European PV double anti-dumping case confirmed that China and the EU have reached a preliminary agreement on price commitments. The agreed floor price is set at 0.57 Euro per Watt, which could help Chinese photovoltaic products avoid up to 47.6% in high punitive tariffs.
Subsidy rules are expected to be introduced before the end of September.
Yesterday, the Shanghai Stock Exchange reporter confirmed from a person familiar with the Sino-European PV double-reverse case that the China-EU PV price commitment negotiations have reached a preliminary agreement, and the price commitment bottom line will be 0.57 euros / watt, which means that China's photovoltaic products are likely to avoid 47.6% of high punitive tariffs.
Just a few days ago, the State Council introduced the “National Six Articles†to promote the development of the photovoltaic industry, opening the door for the development of the photovoltaic industry in the domestic market. According to industry authorities, the details of subsidies for photovoltaic power generation will also be released in the next two months. For the domestic PV companies, especially the first-tier manufacturers with a high proportion of exports to the EU, this is undoubtedly a double benefit.
The price commitment bottom line is 0.57 Euro / watt. According to insiders, the agreement between China and the EU sets the export price of PV modules at 0.57 Euro/W for two years. The Chinese side hopes to completely resolve the PV anti-dumping issue by the end of 2014.
Overseas authoritative media also reported that after six weeks of negotiations, representatives of the China-EU PV trade talks are close to agreeing on the minimum selling price and annual quota for Chinese solar products in the EU28. The recent dispute over price commitments started at 0.55 euros/watt, but both sides have made more concessions compared to early July.
According to news from the EU, even if the agreement isn't finalized in August, Chinese producers may temporarily stop imports until the deal is officially announced. Currently, negotiations are moving closer to a friendly solution.
Originally, the EU planned to impose an average 47.6% punitive tariff on Chinese photovoltaic products starting August 6 if no agreement was reached.
Photovoltaic companies said that while the 0.57 euro/watt price commitment is still not acceptable to some firms, it’s clearly better than the high punitive tariffs. Most companies don’t want the negotiation to fail.
Exports are better than major PV companies. New energy industry analysts believe that if China and the EU reach an agreement, it would be a major positive for PV listed companies with large export volumes.
"Achieving price commitments means successful negotiations. The chance of resuming high anti-dumping taxes after August 6 is much lower. The overall market outlook is positive, and big companies are expected to benefit," said an analyst from Guojin Securities. He noted that 0.57 Euros per Watt is close to the 0.55 Euros per Watt initially proposed by China, while the European side had asked for 0.65 Euros per Watt. This price level is near the cost line of European component manufacturers, about 5%-10% higher than the price of Chinese-made components in the European market.
He believes that under this price, the competitiveness of Chinese components in the European market will be somewhat weakened, but the drop in shipments from large manufacturers to Europe is expected to be limited. Smaller factories may find it hard to compete and might lose some market share, but unit profits could improve.
Earlier, during the peak of the Sino-European PV trade dispute, the State Council issued the "Several Opinions on Promoting the Healthy Development of the Photovoltaic Industry," increasing the 2015 PV installation target from 20GW to over 35GW. It also outlined specific measures to boost distributed photovoltaics, control overcapacity, strengthen grid infrastructure, improve electricity pricing and subsidy policies, and enhance fiscal and tax support.
Yesterday, an industry authority told reporters that the subsidy and electricity pricing policies in the "Opinions" involve financial institutions and the State Grid. Relevant regulations are currently being developed and are expected to be released before the end of September.
According to the China Electricity Council, over 40 photovoltaic power generation standards submitted by the Photovoltaic Power Generation and Industrialization Standards Promotion Group to the relevant authorities are now under review. Industry researchers said that building a standardization system and testing certification framework will help regulate the healthy development of the domestic photovoltaic industry and accelerate the elimination of outdated capacity, benefiting top-performing enterprises in the sector.
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