There has been some success in the negotiations between European and Chinese Authorities to curb EU imports of solar panels from China in exchange for exempting the shipments from punitive tariffs.

The accord sets a minimum price for imports of solar equipment from China, in return manufacturers will not have to shell out taxes levied to balance prices in the EU, known as 'dumping'.

European Trade Commissioner Karel De Gucht said in a statement today in Brussels that the two parties “found an amicable solution in the EU-China solar- panels case that will lead to a new market equilibrium at sustainable prices...After weeks of intensive talks, I am satisfied with the offer of a price undertaking submitted by China’s solar-panel exporters... we are confident that this price undertaking will stabilize the European solar-panel market and will remove the injury that the dumping practices have caused to the European industry.”

The agreement is set to end a long-running stoush between the two, and hopefully see the entire renewable energy movement benefit from the putting aside of squabbles.

A second hearing will round out negotiations, with the EU reportedly threatening to impose a separate set of duties on Chinese solar panels to counter alleged subsidies.