Solar systems generate 13.4 percent of EU electricity and are a cornerstone of the European energy grid. Solar inverters are the brains behind these systems, converting the direct current generated by panels into the alternating current used by homes and businesses.
Although 61 percent of solar inverters imported into the EU come directly from China, the European Commission is now banning financial institutions such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development from financing projects that use Chinese components. The measure applies only to projects in development and future installations, and stems from national security and cybersecurity concerns.
