SOLAR BURNOUT

摘要

Last Summer The Future Of The Solar Indus-try looked bright. Demand was high thanks to generous government subsidies, and solar stocks were soaring. But now it resembles a classic bubble. The solar industry overbuilt and is now struggling under the weight of excess capacity and falling prices. As the global recession took hold, credit dried up and governments cut subsidies, most notably in Spain, where the world's largest subsidy program blew up after spurring nearly 10 times the growth it had intended. When Spain capped it last year, the world's second-biggest solar market collapsed-and so has the price of solar panels, down 50 percent in 2009.