Global PV markets

Following rumors that Germany-based Conergy is looking to reduce its Frankfurt, Oder manufacturing operations and close down certain production lines, a works council called a meeting to inform the employees about the situation.

Democratic Party Prime Minister Naoto Kan has informed his cabinet that he will step down however it appears as if his final act in power will be to see renewable energy legislation signed into law.

Vertically integrated manufacturer Trina Solar has continued to operate profitably, after today reporting an operating income of USD$32.8 million for the second quarter (Q2) of 2011. Module shipments worth 396 megawatts (MW) were also reported.

Upstream photovoltaic equipment manufacturers Meyer Burger Technology Ltd. has continued its strong start to 2011, posting a strong second quarter (Q2) earnings before interest, taxes, depreciation, and amortization (EBITDA) margin.

In what is believed to be the country’s largest publicly funded photovoltaic installation for affordable housing, the Housing Authority of the County of Santa Barbara (HACSB) has installed residential solar systems for 863 low-income housing units. The project cost USD$12.25 million.

In more disappointing photovoltaic financials, Chinese manufacturer LDK Solar has revised down its second quarter (Q2) guidance for gross revenue by around $250 million, squeezing gross margins to only around two percent.

Solar cell and module producer China Sunergy has posted a USD$16.9 million second quarter (Q2) loss, representing a net margin of negative 11.7 percent. The company did not meet the low end of its revised shipment guidance of 100 megawatt (MW) for the quarter.

Hitherto focused on Europe, which accounted for 66 percent of its revenue in 2010, Suntech Power is diversifying its strategy, betting big on the U.S., Asia Pacific, the Middle East and Africa. In an exclusive interview, Zhengrong Shi, founder and CEO talks to pv magazine about the company’s latest plans.

According to new research, the U.S. will see a total of 2.4 gigawatts (GW) of photovoltaic projects installed this year, marking an increase of 166 percent. Newly added capacity is expected to increase to 3.1 GW in 2012 and 5.5 GW in 2015.

Citigroup Inc. announced today that it will create a US$50 million fund with photovoltaic lease provider Sungevity, for installations in eight states. The funds will facilitate residential solar installations in Arizona, California, Colorado, Delaware, Massachusetts, Maryland and New York.