Hard times for solar photovoltaic industry

Solar photovoltaic (PV) manufacturers face numerous challenges in the swiftly changing industry with the rapid decline in PV panel prices raises financial pressures on manufacturers.

Reuters reports that the swelling size of project installations to achieve aggressive renewable energy goals increases completion risk. Moreover, projects that reach completion remain exposed to uncertain long-term panel performance.

The bankruptcies of Solyndra, Evergreen and SprectraWatt highlight the exposure of long-term financing for solar power projects to potentially short-lived manufacturers, according to a new report by Fitch Ratings.

As these pressures mount, few solar power manufacturers have an adequate level of financial strength to back warranty obligations for the full term of project finance debt.

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