The solar panel manufacturing industry in the United States and Europe has begun a volley of trade cases against imports, following the same track as the steel industry before it — and for many of the same reasons. “Back in the ’60s and ’70s, all over the world, governments were investing in steel mills,” said Nicholas Tolerico, a retired American trade official and steel executive. “These days, they invest in solar panels, and you end up with the same overcapacity and cutthroat pricing.”
While the U.S. prepares to hand over $197 million in government funding to solar power start-up SoloPower, a new report from the European Union’s Joint Research Centre indicates that the vast majority of solar panels installed worldwide in 2011 were placed in Europe.
The European Commission has launched an investigation into suspected dumping of solar panels by Chinese producers, drawing a warning from China that restrictions on its exports will hurt the multi-billion-dollar global clean energy sector. The investigation into the biggest import sector ever targeted by the Commission stems from a complaint by a group of European solar companies, led by Germany’s SolarWorld.
Underwriters from Bank of America Corp. (BAC) to Credit Suisse AG and Citigroup Inc. (C) for the first time are close to converting sunlight into cash to pay bond investors.
Similar to asset-backed securities that finance everything from car purchases to college tuition, solar bonds will help fund rooftop power projects that Bloomberg New Energy Finance estimates will need to raise about $4.6 billion next year.
Developers installed 85 percent more solar panels in the U.S. in the first quarter than a year earlier, led by strong growth in commercial projects and demand in New Jersey, according to the Solar Energy Industries Association. Total U.S. installations were 506 megawatts in the quarter and may reach 3,300 megawatts this year, about 11 percent of the 2012 global market, the Washington-based trade group said today in its quarterly market report.
The solar and wind-power equipment business is in a development phase that, like the car industry of the 1900s, is leading to a slump in numbers of manufacturers before it can mature, according to Bloomberg New Energy Finance.
“In 1903, the United States had over 500 car companies, most of which quickly fell by the wayside even as the automobile sector grew into an industrial juggernaut,” Chief Executive Officer Michael Liebreich said in a statement accompanying the release of two reports today based on data compiled by BNEF.
The world’s largest solar-panel makers are boosting production this year on expectations that demand in China will double, a surprise shift as the $36 billion market migrates from Europe to Asia. The five biggest producers of polysilicon solar modules, led by China’s Suntech Power Holdings Co. (STP) and Yingli Green Energy Holdings Co., will increase shipments 27 percent to 37 percent from 2011 levels, according to the average of estimates
German solar power plants produced a world record 22 gigawatts of electricity – equal to 20 nuclear power stations at full capacity – through the midday hours of Friday and Saturday, the head of a renewable energy think tank has said.
Germany’s government decided to abandon nuclear power after the Fukushima nuclear disaster last year, closing eight plants immediately and shutting down the remaining nine by 2022.
Saudi Arabia, the world’s top oil exporter, may finally be getting serious about overcoming the technical and financial hurdles for tapping its other main resource: sunshine. Thousands of solar power panels have sprung up across Europe over the past few years, thanks to generous subsidies that make the technology an attractive alternative to conventional energy.
Well the event of blogging has risen to new high level, high or low will be your decision. I am here to tell you my point of view on all things solar and from time to time energy in general. Now keep in mind I am open to your point of view, I may not […]
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