SunEdison filed for bankruptcy on Thursday, a move that had been widely expected. SunEdison CEO Ahmad Chatila said the process would enable the company to right-size our balance sheet and reduce our debt, providing the opportunity to support the business going forward while focusing on our core strengths.
Meanwhile, San Francisco became Californias first major city to mandate solar installations on new buildings after introducing a new law that requires solar PV systems, solar water heating systems, or a combination of the two, beginning in in January. San Francisco has set a goal to use 100% renewable energy by 2025 in addition to other ambitious environmental targets.
In other U.S. news, a new initiative sponsored by the U.S. Energy Department is expected to reduce the cost of capital as a result of improved access to solar data, which would lower risks and result in savings of nearly $9 billion over the next 10 years, according to the Smart Grid Interoperability Panel (SGIP).
Hemlock Semiconductor Corporation filed a lawsuit of nearly $1 billion against JA Solar over an alleged breach of a polysilicon agreement.
Across the pond, France looks set to increase its solar target threefold by 2023. French authorities greenlit a draft proposal to triple current solar PV capacity by 2023 to 20.2 GW.
Market research group IHS published the results of a study showing a 22% price gap between modules from China and global rivals. The report examined the reasons behind the price disparity and the factors that continue to bring PV costs down.
In Germany, solar PV module manufacturer Sonnenstromfabrik rose again after surviving the insolvencies of two previous owners. Now owned by Now owned by CS Wismar GmbH, the fab is producing its own branded products as well as for OEM customers.
The Indian government appealed a World Trade Organization ruling that the countrys domestic content requirements for solar violate international trade rules.