Suntech (STP) Plans To Triple US Sales This Year

Suntech Power Holdings  just announced that it is trying to triple its US sales this year, from 15 percent of the US market to 20 percent. The company also expects to expand its network of dealers in the US.Although some industry analysts are concerned that subsidy cuts in Germany could cut demand for solar panels, Suntech is optimistic htat lower polysilicon prices and increased demand from the US will balance it out.

In an interview with Reuters, Suntech Chief Strategy Officer Steven Chan commented:

“Suntech has been more in a situation where there is more demand for our products than we had supply. If we had the ability to produce more panels, we could sell the panels.”

He also stated that he expects prices for polysilicon to drop, possibly as low as $35-40 per kilogram, and that the company expects global shipments to be up by 75 percent this year, compared to 2009’s 650 MW.

He also commented on the situation in Germany, saying “The German feed-in tariff situation is very dynamic and fluid and so it’s a little bit premature for us to speculate what the prices would be.”

:::: >>> Click Here For Your FREE Suntech Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *