Following overheated growth of 120% in 2010, the current temperature of the PV industry, and solar in general, is tepid. Driven down by high levels of inventory for both supply and demand participants, manufacturing overcapacity and low utilization of that capacity and rapidly decreasing incentive rates, 2011 saw manufacturer failures that continue into 2012. Margins were low to negative for most (if not all) participants with net losses more common than the merest hint of positive income at the end of 2011.
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