The beginning of the end for some solar companies appears to be near. If you look at the rash of negative earnings announcements, halts to planned production halts, it all points to a consolidation trend which first manifested itself at the installer level and will now push into the other parts of the food chain.
Several solar companies have overshot the runway and overpromised. This economic meltdown is having a double whammy effect until…government funds come into play in Q3 or Q4 to help fund the projects which private banking is no longer doing until its “safe again to come out and play”. Amazing how the bankers will take our money to pay for bonuses, yet they won’t take our taxpayer money to fund our businesses?
ICP is holding its own in this crisis and we are on plan. I guess its lucky that we anticipated this oversupply (without the clairvoyance of anticipating an economic crisis) and sold our last factory last year. We are now free to continue the R&D in new products which have begun to launch onto the market and will significantly ramp up in launches during this fiscal year.
I wish all of them the best, the survivors will be those that are the quickest to react properly, not those who are necessarily the largest (hardest sometimes to turn around).
Small is beautiful.
Sass
2 Comments
I really don’t understand how so many solar companies are ‘crumbling’ unless it has to do with the ‘diy solar panel’ market? Is it really taking out that big of a chunk?
You have a great site. Let’s cross link if you wish to our sunsei.com site?
Sass