17 Apr '12, 4pm

More Solar Blight: First Solar and SunPower Cut Back

More Solar Blight: First Solar and SunPower Cut Back

The latest bad news today is First Solar's announcement that it is cutting its global workforce 30 percent and shutting down its European operations based near Frankfurt. "After a thorough analysis, it is clear the European market has deteriorated to the extent that our operations there are no longer economically sustainable," said First Solar's interim CEO and chairman Mike Ahearn. In the latter part of 2011 there was a surge in solar installations, with a U.S. cash grant program set to expire at the end of the year and European subsidies scheduled to be cut sharply "across the board," as Lux Research put it in a recent report, "Market Size Update 2012: The Push to a Post-Subsidy Solar Industry ." This year Lux expects global installations to be flat, totaling 26.9 GW, compared to 26.5 GW in 2011. It's a grim prospect for any solar company based in North America or Europe...

Full article: http://spectrum.ieee.org/energywise/green-tech/solar/more...

Tweets

Major Closures for First Solar, Sunpower

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On Monday, San Jose, Calif.-based SunPower announced it was closing a 125-MW capacity manufacturing facility in the Philip...

Major Closures for First Solar, Sunpower via @reworld

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On Monday, San Jose, Calif.-based SunPower announced it was closing a 125-MW capacity manufacturing facility in the Philip...

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