Suntech (STP) Continues Push Into US Market At All Costs
There’s a good article in the NY Times today discussing the push of China into the US solar market, particularly Suntech (STP) which has admitted to pricing panels at below cost in order to gain US market share. Just a few days ago the company claimed to now have 25% of the California market.
As we reported here back in May, Suntech plans to expand its presence in the US further in the coming months by manufacturing panels right here in the US. The move will not only lower shipping costs, putting further pressure on US competitors to lower costs, but it’s also designed to avoid protectionist legislation designed to spur local US solar development. It’s sure to create the kind of tension generated in the 80′s between Detroit and the Japanese automakers. The China solar companies are preparing for this as well by encouraging its executives to join industry trade groups to keep anti-China sentiment in line.
It only gets more interesting from here.
Aug.25
[...] China’s solar companies are pushing their way into the American market “at all costs”, selling their panels and equipment below cost to expand their share of the US market. Backed by [...]