Credit Suisse, which just announced its US$200 million partnership with Solar City, has additionally advised that it has committed US$200 million to Sunrun. The investment will help support the purchase and installation of thousands of residential solar systems in the US. Sunrun noted that it installs over US$1.5 million in solar every day and has more than 24,000 customers in ten states.
The latest global PV inverter market report from IMS Research paints a mixed business environment for the sector that has more than 150 active suppliers. Although having defended reasonably well against price declines, compared to the rest of the supply chain, the market research firm is forecasting inverter sector revenues to only increase by 3% in 2012, while shipments increased nearly 25%.
After a rebound in polysilicon sales in the first quarter of 2012, Wacker’s polysilicon sales declined 22% in the second quarter due to customers delaying or reducing delivery quantities. Sales in the second quarter reached €286.8 million, down from €366.6 million in the prior quarter. However, the major reason for the sales decline was due to the substantial reduction in polysilicon prices, which will also result in lower sales being achieved this year than in 2011, according to the company.
PV module encapsulant materials supplier, STR Holdings has warned it will not meet previously guided second quarter 2012 revenue expectations. The company previously guided second quarter sales to be flat with the first quarter, being in the range of US$31-US$33 million, but revised this down approximately US$25 million. Management said that demand was weaker than expected.
Another solar company has fallen prey to the weakened economy, and like its predecessors Solyndra and Abound Solar, won’t be going quietly into the Nevada night. A report by the Las Vegas Review Journal has noted that one year after opening its doors, Amonix closed its 214,000 square foot North Las Vegas manufacturing plant, which was subsidized by over US$20 million in federal tax credits and grants. Amonix supposedly began selling equipment, including automated tooling systems and robotic welding cells in an online auction Wednesday.
The Export-Import Bank of the United States has okayed two loans, totalling US$57.3 million, which will see the exportation of US-made solar panels and ancillary services to Solar Field Energy Two and Mahindra Surya Prakash in India.
Sunways’ management board approved the conclusion of, and entered into, an agreement with Deutsche Solar in order to resolve the early termination of two long-term contracts, originally concluded in 2006 and 2007, that provide for the supply of PV wafers by Deutsche Solar.
While talks continue with potential buyers of insolvent PV manufacturer, Q-Cells, Insolvency administrator Henning Schorisch will also potentially conduct a full restructuring of the company under administration. Q-Cells reported that its creditors met in Dessau-Rosslau to hear about the insolvency proceedings.
The US Energy Department’s (DOE) loan-guarantee is walking a fine line these days, which cannot make life any easier for 1366 Technologies and SoloPower as they prepare to receive funding from the same DOE guarantee that failed solar companies Solyndra and Abound Solar partook in. A report by Bloomberg noted that both 1366 Technologies and SoloPower qualified for guarantees last year and are currently working to meet milestone in order to gain access to the credit.
Earlier this year, SunSi Energies advised that it had signed a binding letter of intent to acquire a 51% controlling interest in TransPacific Energy. Today, the company revealed that it has increased its equity stake in TPE to nearly 45% and plans to gain the additional equity necessary to reach 51% by the end of the month.
