23 Jul '11, 1am

Solar Companies Getting Beaten Up by Falling Prices | Renewable Energy News Article: Many public solar companies...

Solar Companies Getting Beaten Up by Falling Prices | Renewable Energy News Article: Many public solar companies...

Gross margins of solar panel makers slid 25 percent in the first half of this year, and the average price of silicon solar panels dropped from about $1.80 per watt in the first quarter to below $1.40 per watt currently, according to an IMS Research report on Tuesday. Manufacturers have cut their solar panel pricing by around 15 percent in the last six weeks. The prices are falling at a faster clip than the manufacturing costs, however, IMS said. Norway-based Renewable Energy Corp (REC) on Tuesday reported a net loss of 6.7 billion kroner ($1.2 billion) for the second quarter. A year ago, it posted a net income of 757 million kroner ($137.8 million). Average selling prices of its wafers and panels fell 21 percent and 14 percent respectively. Even back in May, the company announced it would cut the production of silicon wafers, cell and panel and lay off about 500 employees,...

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

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