Solar Shortages Looming With Boom in Worldwide DemandPosted by EcoFriendly
First Solar, the world’s cheapest solar panel maker, is reporting that they cannot meet this years demand for solar panels, and three more major manufacturers; Suntech, Yingli and Trina are also signaling that they are sold out, according to Reuters.
This is a huge turnabout. It is only a year ago that solar panels flooded the global market, driving down the cost of solar installations worldwide, after Spain suddenly eased off on its generous Feed-in Tariff, leading to a worldwide solar panel glut and a resulting 40% drop in panel prices.
The benefits of that suddenly cheap solar has had a huge impact. California alone installed as much solar in the first three months as it did in all of last year, at least in part due to cheap panels.
But now it appears that prices might rise again, due to ricocheting demand. (more…)