Markets

In light of the current market conditions, Suntech Power Holdings Co. Ltd has temporarily reduced its photovoltaic cell production capacity in Wuxi, China. Around 1,500 employees have been affected by the decision.

LDK Solar’s woes are continuing well into 2012. In reporting its Q2 2012 financials, the company’s net loss has continued to decline and it only just achieved the lower end of its revenue guidance. The latest figures have prompted it to lower its FY revenue guidance for a second time.

New figures from British bank ING Direct has shown that solar is the most important “non essential” factor in encouraging a prospective buyer to agree to purchasing a house. 38% of respondents to the ING survey of over 1000 people, responded that solar panels were the most important non-essential factor, which would encourage them to buy a property.

U.S. Republicans hailed the bipartisan approval of the “No More Solyndras Act” by the House of Representatives on Friday, September 14, characterizing the bill as “a commonsense solution that will protect taxpayers and encourage a more robust energy future.”

Industry analysts were in agreement at the SPI 2012 conference, held on Thursday, that the solar industry is set for major consolidation over the next 1 year to 18 months. “The reset button needs to be hit; but tremendous value will be unlocked by it,” reckoned Arno Harris, CEO of Recurrent Energy.

Underpinning its U.S. market expansion, Fronius has announced it will begin inverter production at new headquarters in Portage, Indiana soon. The Austrian-based company will also introduce its Fronius Service Program to the U.S.

Consolidation, but steady growth. This is the conclusion of many at the end of this year’s Solar Power International (SPI), which closed its doors yesterday in Orlando, Florida.

According to media reports, Spain-based Isofotón is looking to acquire Sovello. The German company’s insolvency administrator says Sovello is looking to find an investor by the end of October.

Photovoltaic producers will now have to pay a 6% tax on any income they earn from generating solar power, including from feed-in tariffs (FITS).

Californian CPV company, GreenVolts has suspended operations, following “a sudden, and unexpected, change in direction from a major strategic investor,” the company said in a statement issued earlier this week. The startup based in the San Francisco Bay Area appears to be pointing to a recent investment and distribution deal that had been struck with power infrastructure giant ABB.