When U.S. solar companies like Solyndra have faltered, the blame has often been put on China with that claim that we just can’t compete. But according to energy analyst Paul Chesser, China’s big solar firms are reporting disastrous financials, with just 3 companies listing debts more than $6 billion. Just like in the U.S. and Europe, China’s solar business grew only because of cheap money from government grants and loans. Also, mandates to expand renewable energy invited China to unload its low-cost solar panels in the West, causing supply to greatly outpace demand. So it appears, things are none to sunny for solar just about everywhere.
October 26, 2012 by CFACT,
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