Overcapacity, weak demand and uncompetitive production have forced around 90% of polysilicon producers in China to suspend production, according to news reports in China.
Shares of Chinese PV companies trading in the US have soared on news that the Chinese government is set to inject an additional RMB7 billion (US$1.1 billion) into subsidies for its PV industry.
UK-based solar wafer producer, PV Crystalox Solar will implement a significant reduction in its workforce, while discontinuing its polysilicon operations in Germany and heavily cut ingot production in the UK and wafer production in Germany.
General Motors (GM) has signed an agreement with renewable energy firm KC Cottrell to construct a 3MW PV array on the rooftop of its Changwon Assembly plant in South Korea.
Sempra US Gas & Power, a subsidiary of Sempra Energy, has finished building the first phase of the 150MW Copper Mountain Solar 2 PV project in Boulder City, Nevada, US.
The US solar PV market grew by 684MW in the third quarter of 2012, 44% more than in the same period last year, according to a report by Solar Energy Industries Association (SEIA) and GTM Research.