Prices for solar PV panels have continued to slide this year, dropping to $0.80-$0.85/watt, a decline of -10% on top of the the -50% drop in panel prices last year. Many of the Chinese solar PV panel makers over-built manufacturing capacity in the past 18 months, leading to a glut of supply.
A report from Reuters cites one analyst as saying that solar makers are essentially conducting going-out-of-business sales. First Solar Inc. (NASDAQ: FSLR), Trina Solar Ltd. (NYSE: TSL), LDK Solar Co. Ltd. (NYSE: LDK), Suntech Power Holdings Co. Ltd. (NYSE: STP), and Hanwha SolarOne Co. Ltd. (NASDAQ: HSOL) are among the hardest hit.
Share prices are tumbling again today. First Solar is down about -4.2% at $21.07 in a 52-week range of $20.01-$145.16. Trina is down about -1% at $6.64 in a 52-week range of $5.28-$30.10. LDK is down -5.4% at $3.17 in a 52-week range of $2.55-$11.63. Suntech is down -3.2% at $2.71 in a 52-week range of $1.70-$9.50, and Hanwha SolarOne is down -4.7% at $1.21 in a 52-week range of $0.91-$7.05.
Paul Ausick
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.