Germany's residential solar panel industry is in crisis after a sharp decline in consumer demand led to a wave of bankruptcies and layoffs. While lower prices benefit consumers, the industry warns that this trend threatens its profitability and its crucial role in achieving Europe's climate goals.
Germany ’s residential solar panel industry is facing “a lot of distress” after a collapse in consumer demand triggered a wave of bankruptcies and lay-offs in Europe’s biggest and most important market for the sector. Many companies distributing and installing rooftop panels have gone bust, been taken over or forced to adopt changes in strategy.
Chief executive Jamie Heywood described a “peculiar” situation where the cost of installing a solar system has fallen significantly but, owing to lower energy prices, customers also have fewer incentives to turn to solar panels. “Although customers can save money within the life of their system by moving to solar, the payback is less attractive than it was,” he told the Financial Times.
Energy Solar Industry Germany Bankruptcy Demand Climate Change
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