SolarWorld stock declines accelerated this week amid solar panel price cuts and reduced demand.
SolarWorld stock declines accelerated this week amid solar panel price cuts and reduced demand.
Chinese manufacturers are flooding the West with low-priced panels just as demand ebbs in Germany, which has been the world’s biggest solar market. SolarWorld Industries America is fighting back, urging the U.S. government to slap tariffs on Chinese products, which the company says are subsidized illegally by Beijing.
“We did not remain unscathed by the price declines caused by the strong surplus supply, mainly from state-subsidized low-price providers,” said Frank Asbeck, SolarWorld chief executive, in a statement issued in Bonn. “In the entire market, the demand in the third quarter of 2011 developed worse than expected.”
Read more at OregonLive.com.
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