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Global first-tier PV makers post sunny quarter

Posted: 05 Jul 2013 ?? ?Print Version ?Bookmark and Share

Keywords:PV? manufacturing?

According to the recent report from EnergyTrend, a research division of TrendForce, the amount of shipments of global PV manufacturers has declined. The reason behind this is the Q1 off season of the European market and the Chinese New Year off season, as well as the unfavourable effect of reduced subsidy in Germany and U.K., which has actually increased demand. However, since product price started to rise this year, their revenue didn't register a notable drop, added the market research firm.

The deficit of first-tier manufacturers was significantly reduced this quarter and their gross margin has started to rise from the bottom, EnergyTrend revealed. In order to distribute risk, manufacturers have slowly shifted business to other markets. This will also be conducive to market expansion, and due to the increased price, PV manufacturers may start gaining profit.

Benefiting from PV applications, U.S. makers still excelled in revenue performance. Though they didn't have the largest amount of shipments, they achieved the highest revenue and profit. This was mainly because they shifted their business to the downstream market. First Solar's power systems revenue this quarter accounted for 74 per cent of their total revenue, and SunPower established many rooftop or large system constructions in North America, Europe and Japan.

Chinese manufacturers are still gaining a considerable amount of revenue due to their large amount of shipments. Yingli has the largest amount of shipments and the highest revenue, but they also faced the highest net loss. This suggests that cost reduction no longer allows manufacturers to seize market shares. Instead, increasing profit by their downstream system projects is the major solution. Considering the financial status of the manufacturers as well as the large amount of funds required for the downstream system investment, manufacturers who can maintain a balance between profit and funds will be able to perform successful business.

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