Are panasonic solar panels going out of business

Is Panasonic going out of business?

Panasonic today announced it will exit the solar manufacturing industry within 14 months. The Japanese brand issued a press release outlining plans to shutter its Malaysian factory, liquidate its Panasonic Solar Energy Malaysia subsidiary, and lay off staff, by March next year.

Is Panasonic leaving the solar photovoltaic industry?

Electronics giant Panasonic Corp. has announced that they are exiting the solar photovoltaic manufacturing industry within 18 months. On January 31, 2021, the Japanese brand issued a press release outlining their plans to scrap their unprofitable solar cell.

Does Panasonic still manufacture solar panels?

Panasonic will continue selling Panasonic-branded solar panels but will no longer manufacture them itself. The company announced that it will cease production at its Malaysian and Japanese factories by March 2022, exiting the solar panel and wafer manufacturing market.

Is Panasonic exiting the solar market?

To clear up any confusion — Panasonic is not exiting the solar market. The almost-100-year-old company has made a strategic decision in the solar space to design an ecosystem of residential energy products instead of focusing exclusively on manufacturing.

What happened to Panasonic solar panels?

Panasonic ended its manufacturing partnership with Tesla in 2020 and left the solar panel manufacturing market. This comes after Tesla had been using Panasonic solar cells in its Solar Roof products but has since turned to Chinese manufacturers. The installer program for Panasonic solar panels should continue uninterrupted.

Is Panasonic still manufacturing?

Panasonic will continue manufacturing inverters, energy storage systems, and 'other products' at their Japanese factory. However, they will no longer manufacture solar panels in-house, instead selling Panasonic-branded modules through a subcontracted manufacturer. The Malaysian factory will be liquidated.