Sharp says its European solar business Sharp Energy Solutions Europe is set to exit
It will work till March 31, 2025, post which SESE will look after any ongoing projects or final requirements of its panels and related products
SESE’s parent Sharp Electronics GmbH will continue to provide customer service
The European solar business of Japan’s Sharp Electronics is yet another casualty of the precarious situation the solar market is in the continent. Its European solar business has announced its exit from the solar energy market after being in business here for over 30 years.
March 31, 2025 will be the last working day for Sharp Energy Solutions Europe (SESE), the Hamburg, Germany based solar division of Sharp Electronics GmbH. In a brief statement, the company cited challenging conditions in the European solar market for the decision.
It specified, however, that the decision will not impact the company’s other operations in Europe or its remaining solar business. SESE will continue to remain responsible for managing any ongoing projects, orders or final requirements for its solar panels and related products.
“As of April 1, 2025, Sharp Electronics GmbH will continue to provide customer service. All product and power output guarantees will remain valid for the duration of the guarantee period and will be managed and supported by Sharp Electronics GmbH,” it stated.
After experiencing a boom in solar installations soon after the Russian invasion of Ukraine when electricity prices shot up, Europe is seeing the prices coming down and with it there has been a softening of demand for capital-intensive solar in the market.
Problems have been mounting for the local European solar industry as cheaper Chinese panels sit in the warehouses here. The absence of state support is adding to their problems. SESE’s decision to close down follows similar decisions from other companies over the last year, mainly in Germany, as they seek insolvency protection or shutter down (see Germany’s Wegatech Seeks Insolvency Protection & Restructuring).
Speaking at the recent TaiyangNews webinar on Solar Market 2024 Review & 2025 Outlook, Lead Solar Analyst with Bloomberg New Energy Finance, Jenny Chase said there isn’t enough incentive to buy solar in Europe, hence major markets will likely stagnate or shrink (see BloombergNEF Forecasts 670 GW DC New Global Solar PV Installations In 2025 During TaiyangNews Event).
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