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Suntech Weathers Turmoil in Solar Industry

The global solar industry has been struggling a hard time due to declining subsidies from European countries and the overcapacity of solar panels and components in the world. Recently, a case of great concern is that the German Government has been negotiating with the solar industry in order to reduce solar on-grid power tariff month by month. China Suntech Power Holdings Co., Ltd. https://www.51lunwen.org/Accounting/2012/0604/1746246576.html (Suntech) has not been spared in the worldwide turmoil in the solar industry. The company's founder and CEO Zhengrong Shi, however, hold the view that the increasing integration of the solar industry will be beneficial to large companies. U.S. trade sectors launched investigation on the charge that Chinese manufacturers dump solar panels in the U.S. market, and the targets cover Suntech. There are more than 1,000 companies in the solar energy market in China, but for now, at least 50% of the business has been discontinued or partly discontinued. Late last year, some U.S. solar panel manufacturers asked for anti-dumping investigation on Chinese enterprises of the same kind, including Suntech.

In spite of all these difficulties, I still believe that solar energy industry has a bright future. Since the Copenhagen conference, low-carbon economy and low-carbon life style have gradually integrated into all aspects of the society. In particular, with the growing shortage of coal, oil and other conventional energy, energy https://www.51lunwen.org/Finance/ saving and lowering carbon has become an inevitable trend. Government put forward the goal of reduce energy consumption for unit GDP production by 40%-45% by 2020. As a result, approaches to replace non-renewable resources with such clean energies as solar energy, bio-energy and the air, which brings new development opportunities to the solar energy industry. From the perspective of human existence, the purpose of promoting energy conservation and environmental protection is nothing more than to build a more harmonious and better living space for human beings for the benefit of future generations.

In my opinion, the utilization of solar energy should be promoted, and the international community should support the new energy enterprises, which has nothing to lose for the overall development of human beings. So, I am confident in the development prospects of the solar industry, and I will be pleased to work in such kind of new-energy companies.

Reference
Aaron Back (2012, February 20) Suntech Weathers Turmoil in Solar Industry. The Wall Street Journal, from 

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