Sunburn: Why solar panel manufacturers are finding it tough to stay on in the business

By Anand J., Business Today:

It is a curious paradox. Though more and more solar energy is being produced in India – installed capacity rising exponentially from just 20 megawatts (MW) in 2009 to 980 MW by April 2012 – domestic solar panel manufacturers are in the doldrums. Just a couple of years ago, they were riding high. But now they hardly get any orders. All those setting up solar power plants prefer to buy their equipment overseas, especially from China.

Leading solar power equipment manufacturer Indosolar posted a loss of Rs 200 crore in 2011/12, to add to its loss of Rs 130 crore the previous financial year. Moser Baer, which moved away from making compact disks into solar cells , seeing it as the next big opportunity, is trying hard to recast a debt of Rs 3,800 crore. Tata BP Solar, Lanco Solar, HHV Solar Technologies, Jupiter Solar, WebSol Energy Systems and others are all in the same boat. Most of them have reduced production, utilising only 10 to 25 per cent of their installed capacity…. Read more


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