E.ON chief prophesizes end of German PV industry

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Five years is the magic number given by Maubach. He has explicitly announced that the German solar manufacturing sector will disappear in five years due to competition from Chinese companies.

The surge in solar cell production by Chinese PV companies is a prime reason for the fall in prices of panels and this has made German companies uncompetitive, Maubach said at the Bloomberg New Energy Finance Summit in New York.

"In five years, not a single employee will be working at the German solar companies," he said. "They will all be bankrupt."