Suntech see dark days in 2012
The world's largest supplier of solar panels, Suntech Power, based in Wuxi, China, has woes that show how it's become very tough for any company to be profitable selling solar panels.
Suntech's founder Zhengrong Shi has been replaced as CEO by former chief financial officer David King, a Chinese-American who joined the company last year.
The surprise move is meant to get Suntech's financial house in order after four consecutive unprofitable quarters and a stock price that has fallen more than 50 percent this year. The company has a crushing debt load of over $2.2 billion and says it was a victim of a fraud involving solar projects in Europe that could further damage its balance sheet.
In many ways, Suntech is suffering from the stifling market conditions it helped create. To achieve greater scale, it borrowed heavily and rapidly expanded production to lower solar panel costs and keep pace with competitors. But now, the market is flooded with panels, and the leading Chinese solar manufacturers are overextended financially.
What will happen now to Suntech and other debt-laden Chinese manufacturers is anyone's guess. Suntech could ratchet down expenses to remain independent, or it could combine with another large business. Some sort of debt relief from a government-owned Chinese bank is possible, too, since solar is a strategic industry in China and Suntech is a high-profile company.
More Fingers More Power. Pluto's extra fine cell fingers reduce surface shading and boost sunlight absorption into the cell and give the product its sleek appearance.
HiPerforma modules have 10-15% more module efficiency per unit compared to our conventional modules, so you enjoy lower installation and balance of system (BOS) costs
Excellent performance under low light environments means that during mornings, evenings and cloudy days, SunTech modules can deliver up to 10-12% more electricity than conventional modules
HiPerforma modules have better kWh/kW ratio and produce 2-5% more electricity in the field, depending on installation and weather conditions. They can withstand high wind-pressure and snow load, and extreme temperature variations; passed IEC 5400 Pa mechanical loading test; and 25 year warranty
about SunTech Solar Panels
SunTech is Top 5 producer of solar panels worldwide. SunTech HiPerforma is the first line of solar panels powered by Pluto. Based on the world-record holding, highest efficiency PERL technology, Pluto solar cells now power the new HiPerforma line of monocrystalline solar panels which reach conversion efficiencies over 16%.