18 Sep '11, 4am

China takes over as US solar power firms fail

China takes over as US solar power firms fail

SHANGHAI: China's solar power firms are emerging as the industry's dominant force after the collapse of foreign competitors, but the new market leaders are already struggling with low prices and overcapacity. As the workshop of the world, China has used cheap labour and state support to build a solar industry from scratch in just over a decade as part of a broader strategy to move up the manufacturing value chain from cheap toys and clothes. China is the world's second biggest oil consumer, and polluting fossil fuels account for 90 per cent of its total energy use, but the country is making large strides forward in clean energy. Analysts say Chinese firms now have 70 per cent of the growing global market in solar panels, thanks to aggressive pricing and the collapse of three US competitors in the last two months. "The position of Chinese players has certainly been enhanced...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

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