Solar industry margins to be cut with new big company
The international solar power industry is expected to take a bit of a blow with Tawainese company, Foxconn Technology Group, recently deciding to start making solar power modules. The company is the biggest contract maker of electronics, including Apple’s iPhone. A solar power module plant in China’s province of Jiangsu is being built. It is near the headquarters of Suntech Power Holdings Co., the world’s largest manufacturer of silicon-based modules.
Jenny Chase, a solar power analyst from Bloomberg New Energy Finance, states, ‘Foxconn plans to build new factories with undreamed-of scale and lower cost … it will push capacity higher and prices lower’. Other analysts predict the new solar power player will make competition ‘fiercer’ and drive margins down lower. The plant will begin manufacturing solar cells in the May of this year.
The average price for solar modules has declined 47 per cent this year, to $0.94 per watt, and many of the world’s biggest solar power companies have filed for bankruptcy, not being able to keep up with the increase in solar power competition and resulting cheaper prices for solar based products. The new Foxconn plant is expected to add even more competition to the solar power world stage.
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Roshan Carbone - About Author:
Neco, the solar power experts and Australia’s leading provider of solar power and eco products for homes and business. Neco has been installing solar power, Solar Panels since 2004 and helped hundreds of Australian homes and businesses reduce their energy bills through the installation of solar power and other energy efficient products.
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