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Chinese solar panels cost 40-60% less than US equivalents. A 400W Tier-1 panel is ¥320-¥520 ($45-$75) in China vs $200-$350 in the US. China produces 80% of global solar panels. Massive factories reduce unit costs. Local polysilicon production cuts supply chain expenses. Chinese solar workers earn 1/3 of US wages.
Chinese manufacturers are competing for customers by cutting prices far below their costs, and still keep building more factories. The price slashing has taken a severe toll on China's solar companies. Stock prices of its five biggest makers of panels and other equipment have halved in the past 12 months.
Global solar panel pricing varies wildly. Manufacturing locations dramatically affect final costs. China produces the world's cheapest solar panels at $0.13-$0.18/watt. Vietnam and Malaysia follow at $0.18-$0.22/watt. US/EU panels cost $0.30-$0.50/watt. Key Insight: Cheapest doesn't mean lowest quality.
But China's solar panel manufacturers are resilient. Some of the largest have restarted operations, often with the help of banks and local governments, after collapsing a decade ago. Zhao Feng, the founder of Sunzone in Changsha, said he hoped that his company might also recover.
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