"The US commerce department investigation followed a complaint from SolarWorld, a German-owned company that owns a solar panel factory in Oregon. "
I would stand up and salute China if it offered solar panels to the world for $1.00 each or maybe 50% of production cost. If it hurt American production profits? I would salute them twice if China bought every American owned solar producer in the USA and closed the factory.
Unemployment is a fact of life. The banks caused it to benefit themselves and nobody else except the broader associated financial industry.
How much unemployment would China cause if they offered their solar panels for free. And who exactly would benefit from such a good deal.
China: Let the sun shine in!
Looks to me like a gift to the world. Maybe a good place for China to put its money instead of empty cities and roads to nowhere. The payoff in Goodwill would be immense.
It would threaten the energy industry. Solar is a threat to the energy industry. Less of a threat if it is expensive.
Solar World AG financials
Solar World Plant in Hillsboro, Oregon.
"Hillsboro, Oregon is the site of our Americas headquarters and the location of the largest and most advanced solar photovoltaics production facility in the Western Hemisphere. Hillsboro is located about 20 miles west of Portland, in the heart of the Pacific Northwest and the Silicon Forest, where clean hydro-electric power and a trained high-tech workforce provide an excellent climate for growth. The site is currently under reconstruction, with an investment of over $400 million. The State of Oregon has pledged to support these investments with property and business energy tax credits, making this an ideal new headquarters for U.S. expansion."
I think that Oregon should have used all that property and business energy tax credit loss to buy solar panels from China for government buildings to reduce dependence on fossil fuels and reap the savings. Would the savings exceed the benefit of supporting the investment with tax credits?
July 8, 2013 news report in the Oregonian:
SolarWorld notified state officials Monday that it will lay off 100, or 14 percent of its Hillsboro work force, and suspend silicon crystal and wafer manufacturing at the Washington...........SolarWorld employs about 700 at the factory, which opened in 2008 in a converted semiconductor plant. More than 1,000 worked at the plant -- backed by Oregon tax credits -- at its peak. The job cuts affect both regular and temporary workers and will be completed by the end of August...............In response, SolarWorld will stop making crystals and wafers in Hillsboro, instead securing them from its parent company in Germany or the open market. The company will continue making cells and panels at the Hillsboro plant...............Oregon taxpayers have a stake in SolarWorld, having invested $41.9 million so far in tax credits and more in local tax abatements. From those state credits, SolarWorld netted $28.1 million, or less than 5 percent of its Hillsboro investment of more than $600 million.
I don't know the cost of a solar panel but I am sure that $41.9 million would buy a few for the state of Oregon.
Were the 100 full time/part time workers laid off solely related to the silicon crystal and wafer manufacturing? Looks like that to me.
Looks to me like Solar got a big business protection deal with the leverage of having to lay off 100 workers.
Solar World Stock price jump today: More than 7%.
This is the Reuters news report on the tariff today:
The anti-subsidy duties will hurt the Chinese solar industry, although the overall impact should be limited given the U.S. accounted for just about 10 percent of Chinese solar shipments last year, industry officials and analysts say.......The ruling is a major setback for the entire U.S. solar industry because it will immediately increase the price of solar power and cost American jobs in one of fastest-growing sectors of the U.S. economy," said the Coalition for Affordable Solar Energy........But SolarWorld said it is not fair that Chinese solar producers benefit from government aid from their own country, including discounted loans and free utilities, making it hard for U.S. firms to compete..............China retaliated against the original U.S. duties by introducing anti-dumping and anti-subsidy duties on imports of U.S. polysilicon, the key raw material in solar cells, and has accused the United States of trying to curb Chinese imports.
Not Fair! Looks like Solar World wants its cake and eat it too: $41.9 million in tax benefit from the state of Oregon!
Pathetic!
PV magazine report:
According to data provided by Bernreuter Research, which has been extracted from its most recent ‘2014 Who's Who of Solar Silicon Production’ report, Germany-based Wacker Chemie increased its market share in China from 25% in 2012 to almost 33% in 2013.
Korean-based OCI was said to have increased its market share in China from 24% in 2012 to almost 28% in 2013...................In stark contrast polysilicon imported into China from leading US-based producers, Hemlock Semiconductor, REC Silicon and SunEdison, (formerly MEMC), declined from a 39% share in 2012 to less than 28% in 2013.
ROTFLMAO! HELLO! .....US to China: Take that penalty China, we a really going to hurt you big time! Lets all laugh at China building roads to nowhere and unoccupied cities!
The Chinese are very clever people.
Together, both companies expect to build up to 1.7 GW (gigawatts) of solar projects in China over the next five years. SunEdison will supply Huantai with polysilicon from its new FBR polysilicon plant in Korea, supporting both companies' subsequent project needs."
WTF! If SunEdison, an American company supplies polysilicon from its plant in Korea to China does this bypass the Chinese tariff on polysilicon imported from the USA?
This is all absolutely crazy.
SunEdison website here at this link
SunEdison info at Wkipedia here at this link.
"SunEdison is an American manufacturer of silicon wafers for the semiconductor industry as well as solar wafers and Silvantis(R) Solar PV Modules.
An "American Manufacturer" ?????" and for good measure a few more ??????
"SunEdison will supply Huantai with polysilicon from its new FBR polysilicon plant in Korea, supporting both companies' subsequent project needs."
Qui bono?
It is the banking business profit model. Screw the customer.
One Year Stock Chart:
SolarWorld AG
XETRA: SWVK - Jun 4 3:53 PM CET
17.50+1.20 (7.36%)
Followed by:
Sunedison Inc
NYSE: SUNE - Jun 4 11:27 AM ET
19.96+0.47 (2.41%)
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