Meanwhile, the annual limits of PV exports set by the EU will also pose risks for Chinese companies, Tong added.

Along with the recovery of the European economy, the EU PV sector is expected to see rapid growth in the future, which may result in a decline in the share of the EU market claimed by Chinese PV products, he said.

Industry insiders believe there are uncertainties about the price undertaking agreement itself.

Wang Bohua, secretary-general of the China Photovoltaic Industry Alliance, said Chinese solar panel companies have to enhance their product performance, improve quality and after-sale service so as to maintain their market share.

To reduce the risks, China should roll out detailed rules for the implementation of the price undertaking deal and tap the domestic market in the meantime, Tong urged.

Structural upgrading of China's PV industry has also been suggested. Promising companies should be supported by the government, according to Tong, who also called for domestic players to take this advantage to strengthen management of the industry.

China has already stepped up its efforts to explore the domestic market while implementing the price undertaking deal.

The State Council, China's Cabinet, issued a statement on July 15 to say it will target an annual domestic installation of 10 GW of solar energy between 2013-2015, with total installed capacity exceeding 35 GW by 2015.

A spokesman for the China Development Bank said the bank will provide a series of credit products to support these PV power projects.