Another solar manufacturer givesĀ up
Posted by Anthony Watts
Watts Up With That?
Thursday, March 7, 2013
BP Logo (Photo credit: Wikipedia)
It seems to be a trend now, last October it was Seimens
who gave up on solar, now it is British Petroleum, who
has been in the solar business nearly 40 years, and has
made the last closure announcements, finalizing what they
announced in 2011.
In the news today:
(Reuters) ā British oil major BP shut down the remnants
of its solar unit on Wednesday, drawing a line under the
business on which most of its Beyond Petroleum tagline of
the early 2000s was premised.
The unit, which BP has been scaling back since 2008, is
the latest sun energy business to fall victim to rampant
competition from China, falling prices, overcapacity and
lower government subsidies on which the industry still
depends.
Solar Millennium on Wednesday became the second German
solar company to file for insolvency in December,
following module maker Solon.
U.S. company Solyndra LLC folded earlier in 2011 while
Swiss bank Sarasin said in a recent study that Conergy
and Q-Cells were among the German solar companies most
exposed to the sectorās crisis.
āThe continuing global economic challenges have
significantly impacted the solar industry, making it
difficult to sustain long term returns for the company,
despite our best efforts,ā BP said in an internal letter
to staff.
The company confirmed on Wednesday that it plans to exit
its large-scale projects at Long Haven in the U.S. and
Moree in Australia.
BP announced plans in July to abandon its household and
industrial rooftop solar activities to concentrate on the
larger projects but said on December15 that even those
were no longer viable.
Continues at:
http://wattsupwiththat.com/2013/03/07/another-solar-manufacturer-gives-up/
Jai Maharaj, Jyotishi
Om Shanti
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