Looks like there are just too many companies in general. In my non-expert opinion seems like it it was because the country was a little too gungho about making more solar so they said it would be one of the big groth areas leading to a bunch if new developments. Then because there were so many of them they started competing with eachother and driving the pices down until they were unable to continue.
I would recommend reading the article tbh seems like good if dry information.
BrikoX@lemmy.zip 1 day ago
Oversupply. They pushed the price so low that the government is trying to put pressure on them to normalize the prices.