Solar Power Cells, Hot Water, Energy, Collectors

The new year brings continued solar strife

01.01.70

The turning of the new year didn’t make the solar industry any easier for solar manufacturers. Power electronics maker, Satcon Technology, announced Wednesday it’s laying off 35 percent of its workers and shutting down its factory in Canada. The news followed reports earlier this week that a Silicon Valley solar panel maker canceled a plan for a solar factory in Michigan.

Boston-based Satcon makes inverters that convert direct current from solar cells to alternating current to feed to the grid. Inverters play a critical role in solar power generation, and startups that aim to improve inverters’ performance have attracted some big investments from venture capitalists.

Satcon’s decision to close its factory in Ontario and cut about 140 employees worldwide reflects a trend that took hold last year when solar companies – mostly solar cell and panel makers – began announcing layoffs, factory closures and bankruptcies. A pileup of solar energy equipment and the corresponding fall in prices have caused not only declining profits but a trade complaint against Chinese silicon solar cell and panel makers.

Source: GigaOm