As the losses add up for leading PV industry manufacturers, and as manufacturing capacities are idled, it is important to remember that the current correction taking place the PV industry could not necessarily have been avoided. But the severity of the current climate may have been mitigated and the landing made softer if new entrants and participants had paid attention to, and learned from, PV industry history. Manufacturers in China, currently dominating industry demand at 46 percent, might have been more circumspect with capacity growth had they understood that incentives are temporary.