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Like an unrepentant child confined to a “time-out” corner, China is not only irate at accusations that it has over-subsidized its solar industry and underpriced its products, but it is plotting a market rally strong enough to scuttle its competition.

Clean Power Finance, Morgan Stanley subsidiary, MS Solar Solutions Corp., and Main Street Power Company have created a new U.S. solar lease facility, which will provide funding for up to US$300 million worth of projects.

The last of Japan’s 50 nuclear reactors was shutdown over the weekend, as the country heads into the electricity-hungry summer months. With proposed feed-in tariff (FIT) rates promising healthy returns to investors, the stage appears set for a photovoltaic boom.

While the U.S.-based photovoltaics company continued to suffer losses in the first quarter (Q1) of 2012, its balance sheet showed some improvement on last year. There is still some way to go, though, before it is in the black. Issuing its full year (FY) guidance, SunPower is confident it can achieve revenues of US$2.6 billion to $3 billion, and reduce costs to $0.86 per Watt.

U.S.-based vertically integrated thin film manufacturer First Solar has posted a non-GAAP loss for the first quarter (Q1) of 2012 of US$449 million or US$5.20 per share. The company also announced new management in the shape of James Hughes as CEO and Raffi Garabedian as CTO. In related news, major construction has begun at its 550 megawatt (MW) at Topaz Solar Farms project.

Germany’s centrotherm photovoltaics AG has recorded €255.4 million of new orders in the first quarter (Q1) of 2012. Despite this success, the company recognizes the still tense solar situation, which was reflected in its Q1 earnings results.

Henning Schorisch demonstrated cautious optimism with regard to the future of the insolvent photovoltaic manufacturer. Thus no layoffs of the 1,300 employees are pending in the near future and the company has again ramped up production.

While criticism is often aimed at renewables for playing a major role in increasing consumers’ electricity bills, new data from Australia predicts that only three percent of forecast price rises in the country will be due to support for renewables. The newly-formed Renewable Energy Certificates (REC) Agents Association released the figures.

SunPower Corp. has sold its 25 megawatt McHenry Solar Project, located in Northern Stanislaus County, California, to K Road Power Holdings, LLC for an undisclosed amount.

CEO’s from the international photovoltaics community have today announced the establishment of a Global Solar Council. The goal is to sustainably and cost-competitively expand the worldwide deployment of solar energy, by emphasizing the importance of “supportive” policies and trade environments.