Press Release Date: September 01, 2014
As the worldwide solar energy industry undergoes a dramatic boom period with large scale projects entering construction around the globe a breaking effect seems likely to come in the form of shortages of photovoltaic (P.V) panels.
The solar energy industry has been grappling with the problem of global oversupply of (P.V) panels and other components over the last 18 months, a situation that forced down prices which ultimately led to making solar power at more competitive economically and triggering the heightened demand now being experienced. Now with solar energy generating plants expected to increase in number around the world by as much as 29% over the course of this year, solar panel manufacturers are expecting their first shortfall in components since 2006.
The expected shortage of P.V panels and components will likely benefit mainly large manufacturers, the majority of which are Chinese and include Wising Century Solartech, Yingli Green Energy Holdings Co and Trina Solar Ltd, though most likely hurting further development in regions outside of Asia and North America which are their largest markets, if as expected, suppliers favor their larger pre-existing clients, possibly resulting in shipments to large utility scale, solar farms being given priority orders from smaller, independent rooftop systems, which have become one of industry’s fastest-growing areas.
After fielding a number of enquiries regarding the impending supply shortage of P.V panels from both clients and press, WC Solartech released a statement today regarding the situation, “the situation that the solar industry finds itself in is that demand for our products has simply outpaced the production capacity of an industry whose overall size has decreased in recent times. With WC Solartech engaged in large scale plant construction at various locations around the globe, in addition to supplying smaller home style installations to partner companies, the decision has been made that as of the beginning of next month we will be adding a third shift to our manufacturing efforts in order to keep up with the demand that we expect to see not only in our internal work but from other parties facing shortages of equipment.”