CITIC Construction Investment: ЕС планирует ужесточить субсидии на китайские инверторы, фактическое влияние ограничено

China Securities Construction Investment Research Report states that recently the European Union plans to tighten funding support for Chinese inverter projects after the IAA Act. After in-depth research, China Securities Construction Investment believes: (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 Western European market-oriented projects and various countries’ behind-the-meter solar storage projects is relatively limited; (3) Combined with the IAA, the pace of local promotion in Europe is relatively slow, and coupled with the existing short-term gaps, it is expected that only after 2028-2030 can a relatively 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 decentralized. In the long term, global competitiveness remains the core of Chinese enterprises in responding to policy disturbances. (People’s Financial News)