Panasonic Corporation announced it has reached an agreement with GS-Solar (China) Company Ltd. to collaborate in the photovoltaic business. Under the agreement, Panasonic will transfer its solar manufacturing subsidiary, Panasonic Energy Malaysia, to GS-Solar, while separating its photovoltaic research and development function in order to establish a new company with the Chinese partner. Panasonic and GS-Solar will jointly operate and invest in this new company in Japan.
Japan witnessed the first drop in solar panel shipment during Q2 2015 since 2012, which may signal the onset of slower yet stabler growth of PV installations in the decades to follow. Nonetheless, Japan still remains as the second largest PV market in 2015 with 9 GWp cumulative capacity, outrunning that of the US and 18.4% higher than the combined capacity of UK, Germany and India, according to IHS.