Swiss solar technology company, Meyer Burger, has announced plans to halt its manufacturing operations in Germany and focus on growth in the US. The decision was made due to the deteriorating market environment in Europe, including high inventory levels and low prices from Chinese competition. Meyer Burger plans to close its solar module production site in Freiberg, Germany, affecting around 500 employees, but its solar cell production in Thalheim, Germany will continue to support the ramp-up of US manufacturing in Goodyear. The company anticipates significant profits and interest in the American market due to its leading technology position and favorable industry policies. The withdrawal from the European solar market will increase the continent’s dependence on solar imports from China, leading to an EBITDA loss of at least CHF 126 million ($137 million) for the 2023 fiscal year.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
