Solar power has seen a slump, says The New York Times’ blog Green Inc. The statement is based on a run of poor results shown by solar power companies, including LDK Solar and JA Solar, both Chinese manufacturers.
The drop seems to be mainly related to photovoltaic panel prices, which have suffered as demanded stalled and supply increased. The Wall Street Journal has a similar article, adding that a “collapse of demand in Spain, after the government cut what had been a generous aid for the sector” is one of the main reasons for the solar power downturn.
On a positive note, Mr. Mike Ahearn, First Solar’s CEO, said that over the long term, it is good for panel prices to fall, in order to ensure adoption and political support of solar energy.
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