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Solar Technology Costs Tumble Further With China's Industry Shifts

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Earlier this year, solar power costs were falling at a faster rate than experts predicted. Now, Bloomberg New Energy Finance (BNEF) predicts that they will decline by 34 percent by the end of the year. This is due to China’s regression in the solar industry, which would bring plenty of benefits for those around the world in developing countries and the United States.

At the end of May, China announced that they wouldn’t be accepting any new solar projects and removed subsidies from developers. Immediately, that seems like a negative to not create more solar panels in the country. While local demand will fall off, this means their market will be shipping their products out at discounted prices around the world.