Suntech selling solar panels in US 'below production cost'

[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