The Great Shakeout: China's Path to a Rational Solar Industry

China’s solar industry has achieved an explosive growth since 2005 when Suntech launched its IPO as China’s first PV firm listed in NYSE. Rapid capacity expansion soon became the priority for Chinese x-Si players and hype-chasing investors, reaching a peak between 2009 and 2011. However, as the global economic crisis and weakening demand hit in 2012, enormous oversupply and a ferocious price war that put a majority of Chinese players on the edge of bankruptcy. Who will survive the ongoing shakeout and how to stand out in a post-crisis solar market depend on the development strategies used by Chinese solar companies and firesale chasing new investors in the current rough years. The road ahead will be strewn with chaos and uncertainties, but the consolidation will draw a new solar landscape in China that still dominates the global solar industry.