A report from Reuters’ Global Energy Summit indicates that solar power executives are positive the market may rebound.
“The prospects for 2010 and beyond are quite significant,” Suntech Power Holdings Co Ltd Chief Strategy Officer Steven Chan told the Reuters Global Energy Summit on Tuesday. “Next year, I wouldn’t be surprised if the U.S. market tripled off of this year.”
Apparently Spain drove the markets down. As the world’s leading solar powerhouse, it suffered from a decrease in funding last year. In consequence global prices got depressed with the flood of cheap panels in the market, thus hurting producers’ profits.
The article includes the views of a few company executives on the prospects for the industry as a whole. Good read for those interested in the financial aspect of solar power and renewable energy.
I see even the solar panel industry is not above capitalism, so what if there are cheaper panels on the market, welcome to the capitalists globalism and free market. If solar panels stayed cheap then every single house on the planet could afford one, sounds like a win win to me. It is time to get out of the mindset that everything to do with power HAS to be commercial, this does nothing but stagnate progress and innovation.