28 Oct '14, 5pm

US Solar Boom Boosts European Manufacturers REC and Solarworld

US Solar Boom Boosts European Manufacturers REC and Solarworld

BERLIN -- Solarworld AG and REC Solar ASA are benefiting from a boom in solar-energy installations in the U.S. that outweigh a decline in their European home markets. REC Solar, the Oslo-based company that produces in Singapore, increased the share of its sales in the U.S. in each of the past three quarters and seeks to continue that trend, it said today. Solarworld said it plans to expand its U.S. manufacturing capacities as shipments to the region increase. “The market in the U.S. is growing, and it will continue to do so because system costs are coming down,” Solarworld Chief Executive Officer Frank Asbeck said today in a phone interview. REC, Solarworld and other producers of solar products have suffered from shrinking markets in Europe, where governments have cut subsidies to contain runaway electricity costs. They’re turning to the U.S., where installations will almo...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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renewableenergyworld.com 27 Oct '14, 2pm

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