News Summary: EU probes China solar panels

AP News
Posted: Sep 06, 2012 2:37 PM

SOLAR HEAT: The European Union launched an anti-dumping probe into Chinese solar panels.

THE CHARGE: Rivals accuse Chinese companies of selling their products to other markets at a price less than what they charge in China, operating at a loss in order to put competitors out of business. Chinese manufacturers deny this, noting the industry is undergoing a radical transition as costs drop.

DOMINANT FORCE: China accounts for about two-thirds of global production of solar panels. It exported solar panels and associated key components worth around $26.5 billion to the 27 countries in the EU in 2011.