中信建投：União Europeia pretende restringir subsídios a inversores chineses Impacto real limitado

Citic Construction Investment Research reports that the European Union is planning to tighten funding support for Chinese inverter projects following the IAA Act. After in-depth research, Citic Construction Investment believes that: (1) this new policy is consistent with the direction of the IAA, although it is not part of its supporting detailed rules, it can be regarded as a preliminary step of the bill; (2) the new policy covers projects relying on EU-level financing support, mainly affecting centralized projects in Eastern Europe, while the impact on market-oriented projects in Western Europe and various national behind-the-meter solar storage projects is relatively limited; (3) combined with the IAA, the pace of localizing in Europe is relatively slow, and coupled with the existing short-term gaps, it is expected that only after 2028–2030 will a more complete local supply chain be gradually realized, and the bill retains exemption space, member states have flexibility in implementation, and the inverter global market is becoming increasingly fragmented. In the long term, global competitiveness remains the core key for Chinese companies to respond to policy disruptions. (People’s Financial News)