SolarWorld’s revenues and employment are sliding, industry analysts say.
SolarWorld’s revenues and employment are sliding, industry analysts say.
Most troubling, several industry analysts say SolarWorld’s technology no longer justifies its higher panel prices. Some question whether the company can survive.
“The reality is, this company has nothing to offer the American consumer that a Chinese company does not,” said Jesse Pichel, an analyst with Jefferies Group Inc., in one of the gloomier assessments.
At risk are hundreds of local jobs and millions of dollars in taxpayer investments. The company’s precarious position also calls into question the wisdom of those investments, the bulk of which were extended to SolarWorld by state officials in the form of tax credits. Oregonians are already on the hook to forgo $57 million in tax revenues over the next five years to help SolarWorld’s bottom line, and that figure is on track to nearly double by the end of the decade.
Read more at OregonLive.com.
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