Electronics giant Panasonic Corp. has announced that they are exiting the solar photovoltaic manufacturing industry within 18 months. On 01/31/2021, the Japanese brand issued a press release outlining their plans to scrap their unprofitable solar cell manufacturing operations amid ever-increasing price competition from Chinese manufacturing.
This decision will impact their factories in Malaysia and Japan. This includes the manufacturing of solar wafers, cells, and solar panel modules. The Panasonic factory in Japan will continue to manufacture inverters, battery backup systems, and other products.
Panasonic will continue to sell solar panel modules, with their manufacturing subcontracted out to another solar manufacturing company. Rumor has pointed towards REC Solar as their new manufacturing subcontractor in Malaysia.
Panasonic’s decision to exit solar panel manufacturing also prompts a halt in solar panel Research & Development (R&D) operations.
This move will impact Panasonic’s solar and energy storage operations in the United States as well. Despite their decision to end their solar photovoltaic cell production, Panasonic will continue to sell solar power systems to both homes and businesses. Hopefully, this strategic decision will provide greater flexibility for Panasonic Corporation to be nimbler and move faster with the quickly evolving energy market.
By leaving the development and manufacturing of their solar panels to another company, it will bring some positive effects to Panasonic.
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