22 Nov '11, 7pm

Solar Manufacturers Expect Tough Times for 2012

Suntech Power, Hanwha SolarOne, Canadian Solar and LDK Solar all posted losses for the third quarter and many included inventory write-offs in their financial statements because their goods have lost values as a result of the rapidly declining prices in the market. The story is the same for Trina Solar, who reported third-quarter losses a day earlier. The financial pictures given by the companies now follow a now well-known tale of a market bedeviled by a trifecta of oversupply, collapsing prices and tightened project finances throughout this year. Many companies have closed factories, reduced production or filed bankruptcies. Solyndra, SpectraWatt and Evergreen Solar filed for bankruptcies within weeks of each other this year. Energy Conversion Devices suspended manufacturing and planned to lay off 500 workers by the end of this year. Companies such as Renewable Energy Co...

Full article: http://www.renewableenergyworld.com/rea/news/article/2011...

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Solar Manufacturers Expect Tough Times for 2012

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