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ENDNOTES 02 MARKET AND INDUSTRY TRENDS - SOLAR PV<br />

116 GTM Research, op. cit. note 105; 2014 from GTM Research, PV<br />

Pulse, March 2015.<br />

117 Paula Mints, “Reality check: the changing world of PV<br />

manufacturing,” Renewable Energy World, 5 October 2011, http://<br />

www.renewableenergyworld.com/rea/news/article/2011/10/<br />

reality-check-the-changing-world-of-pv-manufacturing; Paula<br />

Mints, “The solar pricing struggle,” Renewable Energy World, 28<br />

August 2013, http://www.renewableenergyworld.com/rea/news/<br />

article/2013/08/the-solar-pricing-struggle; Mints, op. cit. note 115.<br />

118 GTM Research, op. cit. note 105; China accounted for 75%<br />

of global module production in 2015, per China PV Industry<br />

Association, provided by Haugwitz, op. cit. note 98; Asia<br />

accounted for 87% in 2014 and 85% in 2013, and China accounted<br />

for 64% both years, from GTM Research, op. cit. note 116; Asia<br />

accounted for 87% of global module assembly capacity in 2014,<br />

and China plus Taiwan accounted for 62%, from Mints, “The top<br />

ten PV manufacturers in 2014…,” op. cit. note 114.<br />

119 Figures for 2015 from GTM Research, op. cit. note 105. Europe’s<br />

share fell from 8% in 2014, and 10% in 2013, from GTM Research,<br />

op. cit. note 116.<br />

120 Based on preliminary data based on actual module shipments<br />

through September 2015 and guidance figures as well as<br />

detailed analysis of over 45 leading manufacturers’ expected<br />

shipments for the full year, from Mark Osborne, “Top 10 solar<br />

module manufacturers in 2015,” PV-Tech, 21 January 2016,<br />

http://www.pv-tech.org/editors-blog/top-10-solar-modulemanufacturers-in-2015.<br />

Lists of top 10 companies vary according<br />

to source, depending on methodology. The top 10 manufacturers<br />

of solar PV cells were Trina, JA Solar, Hanwha Q-Cells, Canadian<br />

Solar, First Solar, Jinko Solar, Yingli, Motech, NeoSolar and<br />

Shungfeng-Suntech, from Mints, op. cit. note 115.<br />

121 Osborne, op. cit. note 120.<br />

122 Wesoff, op. cit. note 73; manufacturers added more module<br />

assembly capacity and less cell capacity in 2014 and 2015, from<br />

Mints, “Trying to understand PV shipment numbers: do the math,”<br />

op. cit. note 114. See also: Christian Roselund, “Hanwha Q Cells<br />

returned to profitability during 2015, reports strong results,” PV<br />

Magazine, 28 March 2016, http://www.pv-magazine.com/news/<br />

details/beitrag/hanwha-q-cells-returned-to-profitability-during-<br />

2015--reports-strong-results_100023895/; Mark Osborne, “Trina<br />

Solar starts ramping cell and module production in Thailand,”<br />

PV-Tech, 29 March 2016, http://www.pv-tech.org/news/trinasolar-starts-ramping-cell-and-module-production-in-thailand;<br />

IEA, World Energy Outlook 2015 (Paris: 2015), p. 358.<br />

123 New facilities based on the following: Algerian ENIE opened a<br />

25 MW solar panel factory in 2015, from “ENIE se lance dans<br />

la fabrication des panneaux solaires,” Algeria Press Service,<br />

21 July 2015, http://www.enie.dz/?p=880; in Brazil, Globo<br />

Brasil inaugurated a 180 MW module factory in 2015, BYD was<br />

constructing a 400 MW module factory due to open in 2016<br />

and SunEdison announced plans to build a module factory, all<br />

from Wesoff, op. cit. note 73; Ian Clover, “Egypt unveils 50 MW<br />

PV project and 50 MW module fab,” PV Magazine, 29 June 2015,<br />

http://www.pv-magazine.com/news/details/beitrag/egyptunveils-50-mw-pv-project-and-50-mw-module-fab_100019986/;<br />

IGD and SkyPower announced plans to build a 600 MW PV<br />

fabrication and assembly plant in Egypt, from Burger, op. cit. note<br />

79; a PV module line with 50 MW of annual production capacity<br />

was installed in Iran during 2015, from Christian Roselund, “Iran to<br />

pay 35% premium for solar, wind plants with domestic content,”<br />

PV Magazine, 5 February 2016, http://www.pv-magazine.com/<br />

news/details/beitrag/iran-to-pay-35-premium-for-solar--windplants-with-domestic-content_100023084/;<br />

Jason Deign, “South<br />

Africa’s module industry grows on local content push,” PV<br />

Insider, 2 February 2016, http://analysis.pv-insider.com/southafricas-module-industry-grows-local-content-push;<br />

“Talesun<br />

inaugure une usine ultra automatisée de 800 MW de capacité<br />

en Thaïlande,” Tecsol, 22 November 2015, http://tecsol.blogs.<br />

com/mon_weblog/2015/11/talesun-inaugure-une-usine-ultraautomatisée-de-800-mw-de-capacité-en-thaïlande.html.<br />

In<br />

response to trade tariffs from, for example: Doug Young, “New<br />

energy: trade wars push China solars offshore,” Young China Biz,<br />

17 March 2015, http://www.youngchinabiz.com/en/new-energytrade-wars-push-china-solars-offshore/;<br />

Bridge to India, “166<br />

GW of solar investment interest in India in the coming years,”<br />

India Solar Weekly, 9 February 2015; Liu Yuanyuan, “The Chinese<br />

viewpoint: what solar manufacturers plan to do about the US<br />

trade rulings,” Renewable Energy World, 24 February 2015, http://<br />

www.renewableenergyworld.com/rea/news/article/2015/02/thechinese-viewpoint-what-solar-manufacturers-plan-to-do-aboutthe-us-trade-rulings.<br />

Expansion plans based on the following:<br />

Feifei Shen, “China’s Tongwei Group plans world’s biggest<br />

solar-cell plant,” Renewable Energy World, 19 November 2015,<br />

http://www.renewableenergyworld.com/articles/2015/11/china-stongwei-group-plans-world-s-biggest-solar-cell-plant.html;<br />

Mark<br />

Osborne, “SolarWorld adding 500MW of monocrystalline ingot<br />

production,” PV-Tech, 13 March 2015, http://www.pv-tech.org/<br />

news/solarworld_adding_500mw_of_monocrystalline_ingot_<br />

production; Bridge to India, “Global solar manufacturers look to<br />

India for new manufacturing capacity,” India Solar Weekly, 4 May<br />

2015; Anindya Upadhyay, “JA Solar, Essel set to begin building<br />

solar cell, module plants,” Renewable Energy World, 1 September<br />

2015, http://www.renewableenergyworld.com/articles/2015/09/<br />

ja-solar-essel-set-to-begin-building-solar-cell-module-plants.<br />

html; Junko Movellan, “Panasonic ramps up Japanese solar<br />

manufacturing to meet domestic rooftop demand,” Renewable<br />

Energy World, 21 May 2015, http://www.renewableenergyworld.<br />

com/articles/2015/05/panasonic-ramps-up-japanese-solarmanufacturing-to-meet-domestic-rooftop-demand.html;<br />

Ian<br />

Clover, “Property deal signed for phase one of planned 1 GW<br />

Saudi PV fab,” PV Magazine, 11 January 2016, http://www.<br />

pv-magazine.com/news/details/beitrag/property-deal-signedfor-phase-one-of-planned-1-gw-saudi-pv-fab_100022730/;<br />

Eric<br />

Wesoff, “1366 Technologies to build 250MW ‘direct’ silicon wafer<br />

factory in upstate NY,” Greentech Media, 7 October 2015, http://<br />

www.greentechmedia.com/articles/read/1366-Technologies-to-<br />

Build-250MW-Direct-Silicon-Wafer-Factory-in-Upstate.<br />

124 Bloomberg, from Alex Nussbaum, “Solar goes on a building<br />

boom despite memories of past bust,” Renewable Energy World,<br />

24 December 2015, http://www.renewableenergyworld.com/<br />

articles/2015/12/solar-goes-on-a-building-boom-despitememories-of-past-bust.<br />

Note that there have been many<br />

announcements, but it is not realistic that all will be carried out,<br />

and some companies could be replacing existing lines, improving<br />

technologies and mixing wafers, etc., from Masson, op. cit. note 2.<br />

125 Kieran Cooke, “Clouds over China’s solar power industry,” Climate<br />

News Network,” 10 August 2015, http://www.climatenewsnetwork.<br />

net/clouds-over-chinas-solar-power-industry/.<br />

126 Tianwei was a manufacturer of electrical transformers, and then<br />

of polysilicon, from Doug Young, “New energy: solar weaklings<br />

shutter on Tianwei collapse,” Young China Biz, 21 September<br />

2015, http://www.youngchinabiz.com/en/new-energy-solarweaklings-shudder-on-tianwei-collapse/#more-23492;<br />

Doug<br />

Young, “New energy: government bails out Yingli, sort of…,”<br />

Young China Biz, 14 October 2015, http://www.youngchinabiz.<br />

com/en/new-energy-government-bails-out-yingli-sort-of/;<br />

Yingli also from Nussbaum, op. cit. note 124. Hanergy came<br />

under investigation after its stock value plummeted in May<br />

2015 and, in early 2016, posted its first annual loss since 2009,<br />

from the following: Brian Spegele and Wayne Ma, “Hanergy’s<br />

prospects dimmed by solar panels’ quality, analysts say,”<br />

Wall Street Journal, 22 June 2015, http://blogs.wsj.com/<br />

chinarealtime/2015/06/22/hanergys-prospects-dimmed-bysolar-panels-quality-analysts-say/;<br />

“Hanergy,” Wikipedia, https://<br />

en.wikipedia.org/wiki/Hanergy, viewed 31 March 2016; Antoine<br />

Gara, “Hanergy’s stock collapse is a frustrating win for handcuffed<br />

short sellers,” Forbes, 20 May 2015, http://www.forbes.com/<br />

sites/antoinegara/2015/05/20/hanergys-stock-short-sellersdialectic-john-fichthorn/#6d959154495d;<br />

“Hanergy thin film<br />

posts loss four times bigger than revenue,” Bloomberg, 31 March<br />

2016, http://www.bloomberg.com/news/articles/2016-03-31/<br />

hanergy-thin-film-posts-loss-four-times-bigger-than-revenue.<br />

127 Solar project developers have reported subsidy payment delays of<br />

up to 18 months, which has caused cash flow problems, from Raj<br />

Prabhu, Mercom Capital Group, cited in Movellan, op. cit. note 13.<br />

128 Eric Wesoff, “The mercifully short list of fallen solar companies:<br />

2015 edition,” Greentech Media, 1 December 2015, http://www.<br />

greentechmedia.com/articles/read/The-Mercifully-Short-List-of-<br />

Fallen-Solar-Companies-2015-Edition.<br />

129 Christopher Martin and Brian Eckhouse, “SunEdison caps<br />

2015 with deals boosting balance sheet,” Renewable Energy<br />

World, 4 January 2016, http://www.renewableenergyworld.<br />

com/articles/2016/01/sunedison-caps-wild-2015-ride-withdeals-boosting-balance-sheet;<br />

Stephen Lacey, “SunEdison<br />

to reassure investors about its growth path: ‘we’re going to<br />

acknowledge reality’,” Greentech Media, 7 October 2015, http://<br />

02<br />

RENEWABLES 2016 · GLOBAL STATUS REPORT<br />

219

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