With the coronavirus taking up all the headlines, what does it mean for the solar industry and local solar suppliers? Unfortunately the energy industry may suffer the consequences along with so many other industries and businesses.
How it will affect solar in Australia?
We can expect solar prices to increase, at least in the short term. This is due to the slow down in production of solar panels in China. Around 75% of the world’s solar panels are manufactured in China, so stopping that amount of supply (both the manufacturing and transportation) will inevitably have an affect on the market.
Luckily, as a strong industry, we do have enough supply of solar panels and solar products to get us over the next few months. Very large solar projects may be slowed down, but residential and commercial projects under 100kW should not be affected.
What happens next?
Solar authorities and industry bodies have expressed warnings to slow down the rate of connection deadlines for large-scale projects. If you are thinking about solar for your home or business, you should have no issues as supplies in this size have not been affected, with stock levels in Australia remaining steady.
Depending on the rate of recovery from the outbreak, especially in China, we may see a slow down in supply as we move into the middle of the year. Once the recovery starts, the production capacity of the Chinese solar manufacturers will be at full speed, and it won’t take long to get production and shipments back to normal.
If you’re considering solar for work or home, get in touch and we can help you make an informed decision.