Jenny Chase, chief solar energy analyst at Bloomberg New Energy Finance, said that the oversupply of solar panels in 2012 has intensified. In 2011, oversupply of solar panels led to a loss of up to $30 billion in solar energy shares.
In 2012, solar power plant developers will install 28.4 GW of solar power plants, while solar production capacity will reach 45 GW. In 2011, the global installed capacity was 28 GW.
In the first half of 2011, the oversupply of solar panels led to a sharp drop in product prices, which weakened the profitability of solar energy companies, and led to 15 losses in the recent earnings of 15 companies in the Bloomberg Large Solar Index. Last year, Bloomberg’s large solar energy index tumbled 76%.
Chase said in an interview: “As for the profit rate, 2012 will be even worse; when it comes to bankruptcies, it will be even more in 2012. The Chinese government has made it clear that it will not support uncompetitive manufacturers.
Prior to this, there were photovoltaic giants who stated that the growth in demand for China's PV market in 2012 will support the solar industry. Last week, Shi Zhengrong, the chief executive of Suntech Power, said that in 2012, China's newly installed PV capacity will reach 4GW; Gao Jifan, CEO of Trina Solar, said that in 2012, China's newly installed photovoltaic capacity will exceed 5GW. In 2011, China installed 2.2GW of solar photovoltaic devices.
In 2012, solar power plant developers will install 28.4 GW of solar power plants, while solar production capacity will reach 45 GW. In 2011, the global installed capacity was 28 GW.
In the first half of 2011, the oversupply of solar panels led to a sharp drop in product prices, which weakened the profitability of solar energy companies, and led to 15 losses in the recent earnings of 15 companies in the Bloomberg Large Solar Index. Last year, Bloomberg’s large solar energy index tumbled 76%.
Chase said in an interview: “As for the profit rate, 2012 will be even worse; when it comes to bankruptcies, it will be even more in 2012. The Chinese government has made it clear that it will not support uncompetitive manufacturers.
Prior to this, there were photovoltaic giants who stated that the growth in demand for China's PV market in 2012 will support the solar industry. Last week, Shi Zhengrong, the chief executive of Suntech Power, said that in 2012, China's newly installed PV capacity will reach 4GW; Gao Jifan, CEO of Trina Solar, said that in 2012, China's newly installed photovoltaic capacity will exceed 5GW. In 2011, China installed 2.2GW of solar photovoltaic devices.
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