According to a Reuters report, Shi expects China to particularly benefit from the declining photovoltaic module prices. He added that module inventory levels could hit 11 gigawatts in 2012. "The Chinese PV sector must keep the faith, it’s going to be tough," he was quoted as saying.
Furthermore, says Reuters, Shi believes the price of solar will rival that of traditional forms of electricity for at least half of the worlds countries by 2015, with the market benefiting from a pick up in demand for solar after prices have bottomed.
In other Suntech news, an 8.05 megawatt photovoltaic system has been inaugurated at Athens International Airport in Greece. It is said to be the largest of its kind in the world.
The project was carried out by Biosar, a partner of Suntech. While construction was completed in July, the official opening ceremony was held yesterday. A spokesperson additionally told pv magazine that the system is owned by Athens International Airport. They would not disclose the investment amount however.
The photovoltaic system is expected to cover a third of the airports energy needs. Comprised of around 28,750 Suntech STP 280-24/Vd modules, it is located in an area next to the airport.
Finally, the Chinese manufacturer has been recognized by the World Economic Forum as a New Sustainability Champion in its ‘Redefining the Future Growth: The New Sustainability Champions’ report. Suntech was the only solar company to appear it in.