• 3 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 5 minutes CoV-19: China, WHO, myth vs fact
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 8 hours “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 40 mins Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 8 mins Blowout videos
  • 10 hours Energy from thin air?
  • 14 hours OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 1 day Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
  • 3 hours Can LNG Kill Oil?
  • 1 day Fast-charging, long-running, bendy energy storage breakthrough
  • 1 day Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 2 days "For the Public's Interest"
  • 16 hours Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Cheap natural gas is making it very hard to go green
Russia Doubles Down On Its Arctic Ambitions

Russia Doubles Down On Its Arctic Ambitions

Russia is pushing ahead with…

Libya Faces Disaster If Oil Blockade Continues

Libya Faces Disaster If Oil Blockade Continues

Libya is facing financial disaster…

Chinese Energy Company Takes Advantage of Failing US Solar Firms

Chinese Energy Company Takes Advantage of Failing US Solar Firms

A few years ago investors were pouring their money into Silicon Valley start-up solar companies that hoped they could revolutionise the young, expensive solar industry.

Unfortunately no one had banked on the dramatic fall in photovoltaic prices, driven by falling prices for raw materials, and Chinese government subsidies which led to a huge overcapacity in the market.

The drop in prices devastated the Silicon Valley companies, and despite developing the new technology known as ‘thin-film solar panels’ they couldn’t compete with cheaper silicon panels. The US government tried to help by imposing large tariffs on all Chinese imported panels, but it was too little too late as most balance sheets had already been crippled and investors had been scared off. Some of the companies, such as Solyndra, went bankrupt.

Related Article: Solar and Big Oil Join Forces in Middle East

The CEO of Miasole, one of the most promising of the Silicon Valley solar start-ups, has just announced that the Chinese energy company Hanergy Holding Group has finalised the purchase of the company and for a fraction of the cost that has been invested into it.

Hanergy’s acquisition follows the recent purchase of another thin-film solar company which was part of Q.Cells, a bankrupt German solar company. The two deals mean that Hanergy has acquired an array of valuable patents that were developed for hundreds of millions of dollars, for an incredibly low cost.

Hanergy is develops hydroelectric dams, and Li Hejun, the chairman, has explained that each year it’s dams generate several hundred million dollars of free cash flow, which it has decided to invest in solar energy. Currently Hanergy owns six thin-film solar factories, with three more under construction. It hopes that developing thin-film solar technology will enable it to avoid competition from other solar manufacturers such as Suntech and Yingli.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage


Leave a comment
  • Michael Joseph on January 11 2013 said:
    This is disastrous. Do you trust Chinese quality of their products.? I don't.

    And it is even more so from the competition point of view. How is it expected to have the prices kept low if all the production will come from one source, and in one country.?

    I hope there are still others in the West producing thin-film panels, or come up with an alternative that negates the Chinese advantage.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News