January 4, 2012
Overcapacity Plagues Solar Industry
Institute for Energy Research, Institute for Energy Research
Solar power has hit an all time high in the United States, but it is now plagued by over capacity, declining prices, dwindling subsidies and bankrupt companies. That is because its product is uneconomic without massive subsidies, needs the sun to shine in order to produce power, must be backed-up with other power sources for reliability, and has steep competition from China where labor rates are low and solar manufacturers are subsidized. Led by China, global production of solar panels tripled over the last three years. . .
TAGGED: renewable energy initiatives, renewable energy, Solar energy, global energy consumption, Institute for Energy Research