Suntech selling solar panels in US 'below production cost'

Chinese solar giant Suntech Power is selling solar photovoltaic (PV) panels in the US below its costs for materials, assembly and shipping, accoridng to the company’s founder and chief executive, Shi Zhengrong.

[ Update: Shi recanted his remarks, saying he misunderstood a reporter's question.]

Solar module prices are expected to tumble as much as 25% to $2.25-$2.30 per watt by year end from $3 in 2008, according to a Navigant Consulting analyst Paula Mints’ presentation last month at InterSolar North America.

Suntech is planning a US panel assembly plant to save on shipping costs and comply with federal economic stimulus rules that would exclude Chinese-made goods from stimulus-funded projects, according to a story in the New York Times.

Suntech America president Roger Efird told Recharge

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login