SolarWorld on shaky ground

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Monday, August 27, 2012

SolarWorld's revenues and employment are sliding, industry analysts say.

Most troubling, several industry analysts say SolarWorld's technology no longer justifies its higher panel prices. Some question whether the company can survive.

"The reality is, this company has nothing to offer the American consumer that a Chinese company does not," said Jesse Pichel, an analyst with Jefferies Group Inc., in one of the gloomier assessments.

At risk are hundreds of local jobs and millions of dollars in taxpayer investments. The company's precarious position also calls into question the wisdom of those investments, the bulk of which were extended to SolarWorld by state officials in the form of tax credits. Oregonians are already on the hook to forgo $57 million in tax revenues over the next five years to help SolarWorld's bottom line, and that figure is on track to nearly double by the end of the decade.

Read more at OregonLive.com.

{biztweet}solarworld{/biztweet}

 

Comments   

 
Guest
+1 #1 What a shock!Guest 2012-08-27 21:07:24
Wow, another "Green Jobs" producer from the investiment of taxpayer's money via the bank of the government. What a surprise? How soon before people wake up and realize government isn't really good at picking winners when it comes to business???
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Guest
0 #2 PresidentGuest 2012-08-28 16:22:16
Yes and they still don't learn, they don't know enough to run anything, so they try running everything!
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