The Chinese Ministry of Commerce has identified six renewable energy initiatives in the US that the Chinese government believes is flouting World Trade Organization (WTO) rules on subsidies and countervailing measures in addition to the 1994 GATT Agreement.
Profitability remains tantalizingly elusive at Suntech Power Holdings, having reported a first quarter GAAP loss of US$133 million on the back of certain one-time issues, 27% lower quarterly shipments and 10% price declines. Although management stuck to previous guidance for the year, indicating strong shipments in the second-half of the year, analysts raised concerns over Suntech’s ability to repay a US$540 million convertible note due next year.
Almost a week after the preliminary determination announcement from the US Department of Commerce, organisations and corporations continue to make statements.
Developments in the South American market, particularly in Brazil, have created such a buzz that it will play host to Intersolar’s first South America Summit in São Paulo in August 2012. Countries in the region are seeing dramatic increases in energy consumption of up to 30% per year, chiefly as a result of industrial development. At the same time, in nations such as Brazil, solar power is currently on the brink of grid parity.
Late last week, Vermont’s Governor Shumlin signed the 2012 Energy Bill into law, which among other benefits saw the state’s CLEAN Program expand from 50MW to 127.5MW. The bill outlines that the capacity of any distributed generation facility that provides “sufficient benefits to the operation and management of the electric grid” because of its location or other characteristics will not count towards the overall program cap of 127.5MW. Thus, this portion of the legislation mandates that no limit exists on the amount of clean local energy produced from facilities providing locational benefits.
First generation PV thin-film adopters are falling like flies as Berlin-based Inventux files for bankruptcy. Inventux was a customer of Oerlikon Solar and an early adopter of its micromorph silicon turnkey technology. A temporary insolvency administrator has been appointed by the local court in Berlin-Charlottenburg, which is understood to be looking for new investors and secure some of the 200 jobs at risk at the company.
While some analysts are calling for calm and urging cooperation, the US head of SolarWorld has voiced confidence in the US Department of Commerce’s announcement for anti-dumping duties on Chinese imports of solar material claiming it will restore competition within the industry.
Last week, the US Department of Commerce imposed tariffs of between 31 and 250% on solar imports from China. Semiconductor Equipment and Materials International (SEMI) has issued a statement calling for all parties to work together on measures to eliminate trade and investment barriers to solar energy.
Despite full-capacity utilization and increased shipments of polysilicon and wafers, Daqo New Energy suffered falling revenue and continued losses in the first quarter of 2012. Based-on previously guided poly production cost reduction timelines and current spot market pricing - Daqo is fighting a loosing battle to sell polysilicon above cost levels through 2012 and 2013.
Earlier this month, Chinese vice premier Wang Qishan and state councillor Dai Bingguo met with US secretary of state Hillary Clinton and treasury secretary Timothy Geithner, in Beijing to discuss Sino-American strategic and economic relations. On May 17, the US Department of Commerce announced in a preliminary hearing that China had been exporting to the US at less than fair value.
