NewEnergyNews More: The War Between Wall Street And Solar

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  • Tuesday, April 18, 2017

    The War Between Wall Street And Solar

    How Wall Street Once Killed the U.S. Solar Industry… and how it could happen again.

    Robinson Meyer, April 17, 2017 (The Atlantic)

    “…[The global solar industry] is a $65-billion business, and the United States has been involved in it from the beginning…Yet North American firms produce only about 3 percent of the world’s solar panels. China and Taiwan, meanwhile, make more than 60 percent of them…Labor in East Asia is often cheaper…but that’s not the only factor…[Computer chips and solar panels were commercialized before 1980 but] the United States still leads the computer-chip industry, holding more than half of global market share for 20 years…A new paper in Science Advances argues that [enormous market changes in the 1970s and 1980s labeled ‘financialization’ drove firms to financial assets with fast-rising valuations instead of] creating new wealth for the long term…Solar’s too long-term; it’s in direct competition with fossil fuels; and it’s very capital-intensive. There has to be some kind of corporate restructuring for innovation to occur. There has to be some kind of policy that makes a break with the way it is now…” click here for more

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