The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Photovoltaic Production in China's Jiangsu Province Falls 30% in 2012

Total output value of the PV industry in Jiangsu province, China amounted to 180 billion yuan (approx US$28.9 billion) for the first 10 months of 2012, a year-over-year decrease of 28 percent, according to recently released data. The industry's total exports reached US$6.89 billion for the same period, down 38 percent when compared to the corresponding period of the previous year. Insiders foresee the industry's total output value for the whole year of 2012 to decrease by up to 30 percent year over year.

Over half of the province’s PV manufacturers are struggling, and at the same time find themselves saddled with heavy debts – over 50 percent of the firms have ceased production. Publicly available information revealed that Wuxi city-based PV manufacturer Suntech recorded a net loss of US$116 million and total liabilities exceeding US$3.5 billion for the first three quarters of 2012. Another Jiangsu-based PV manufacturer Hareon Solar reported losses of up to 199 million yuan (approx US$31.9 million) and operating revenue of 3.65 billion yuan (approx US$586 million) for the same period, with the latter down 31.7 percent.

An industry insider said in an interview that the depression in the province’s PV industry was mainly attributed to the significantly decreased prices for PV components, the high liability ratio among certain firms, in addition to the above mentioned “exit” of more than half of the producers. The insider also suggested that the province expand PV applications across the country and accelerate a restructuring of the sector through consolidation and by shutting down the makers that don’t have the wherewithal to upgrade their technologies. 

Wuxi Suntech signed a strategic cooperation agreement with Jiangsu Phono Solar last May, under which, the two parties would jointly expand the country’s PV power station projects, focusing on co-developing, establishing and investing in large PV stations and rooftop installations.

Solar PV was the province’s first foray into a renewable energy industry and has now formed a complete industry chain, from production of polycrystalline silicon raw materials to establishment of PV power stations. The province is home to many of China’s leading PV manufacturers, including eight manufacturers that have listed on stock exchanges outside of China and five that rank among the world’s top 10 PV manufactures in terms of sales. Two thirds of China’s output value in the PV sector comes from the province.

To get the PV industry back on track and into a growth mode again, the province needs to encourage and support independent innovation and apply core technologies to improve its competitiveness in the PV market, according to an industry insider. Recommendations include establishing special research funds to assist companies, colleges, universities and scientific research institutes in making the needed investments in the research and development of PV technologies, with a focus on the end market.

The province’s capital, Nanjing, recorded a year-over-year decrease of 39 per cent in the PV industry’s core business revenue for 2012, whereas two years earlier, in 2010, the city experienced a year-over-year increase exceeding 100 percent. 

Lead image: Chart down via Shutterstock

Untitled Document

RELATED ARTICLES

Hybrid solar minigrid to power Tanzanian island village

Tildy Bayar

A hybrid solar photovoltaic-battery energy storage-diesel minigrid project aims to provide power for around 400 households in the remote island village of Lake Victoria (pictured) in Tanzania. 

World Moves Toward 100 Percent Renewable Energy – First Electricity, Then Heating/Cooling, and Finally Transportation

Junko Movellan, Correspondent The exclusive use of energy from renewable resources in at least one sector has now become a feasible goal for 8 countries. Diane Moss, Founding Director of Renewables 100 Policy Institute, discussed this remarkable develop...

Solar power growth impacting UK electricity sector

Diarmaid Williams

Q2 of 2015 saw a large increase in the generation of electricity from solar PV in the UK, with the growth having a significant impact on electricity market prices and other supply factors.

PACE Finance Opening Doors for C&I Solar In California

Susan Kraemer, Correspondent With its excellent renewable policy, California leads the nation in solar. Over the years both the Renewable Portfolio Standard and the California Solar Initiative drove utility scale and residential solar deployment. But w...
Nanjing Shanglong Communications Liu Yuanyuan is Director of Operations and Co-Founder of Nanjing Shanglong Communications. Liu Yuanyuan previously held the position of office manager at the London Financial Times' China translation and editoria...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

Grid-connected and Off-grid Photovoltaics

This training covers all aspects of planning, installation, maintenance,...

2015 Green Energy Expo

Stop by and visit Canadian Solar at the Green Energy Expo in Mexico City!

2015 Intersolar-South America

Canadian Solar will be exhibiting @ Intersolar-South America. Stop by an...

COMPANY BLOGS

Prevailing At A Premium

As efficiency sales professionals, we’re often faced with situatio...

Do Your Goals Match Your Values?

Before you set goals for your company or your personal work performance ...

LSX rises with sustainable wine making in Mexico

his custom LSX solar canopy shades the upper deck organic gard...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS