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Gold/Mining/Energy : First Solar, Nasdaq: FSLR

FSLR 257.51

+0.1%

Dec 5 9:30 AM EST

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From: David C. Burns	8/3/2011 1:13:01 AM
	1 Recommendation of 912

Clouds over solar energy sectorBarely a year ago, there appeared little prospect for consolidation in the global solar industry, which was enjoying a boom from strong demand from European markets such as Italy and Germany. With new installations more than doubling last year to make solar a $60bn market, “everyone is still too busy making money for consolidation”, one analyst said at the time. But the situation has changed over the past six months. Cuts in government subsidies combined with over-investment in capacity expansion last year, have sparked a sharp downturn. Spot market prices of solar cells and wafers have fallen by about 40 per cent since the beginning of the year and are now below cash cost for many manufacturers. Overall, the industry is expected to register almost no growth this year. Solar industry executives and analysts say this is a watershed moment that will see weaker players forced to exit or merge, while market leaders – mainly vertically integrated Chinese manufacturers – pull away from the pack. ft.com

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