Another Green Fail: BP Shuts Down Solar Business – “Also In Germany Solar Industry Faces Collapse”

Back To Petroleum! – BP Shuts Down Solar Business – “Also In Germany Solar Industry Faces Collapse”

By P Gosselin on 21. Dezember 2011

BP: Back to Petroleum

Energy giant British Petroleum (BP) announced that it was shutting down its solar module business for good. In 2000 the corporation had announced that it would expand aggressively into promising renewable energies, and dubbed itself “Beyond Petroleum”.

Today, according to the online leftist “TAZ” daily here:

Already last year the company shut down its own solar modules plants, and now also its business with project development is ended – 30 years after BP Solar was founded.

BP is the latest in the long string of failures that have swept over the solar industry recently. Massive subsidies by governments had caused a boom in solar installations, but with solar electricity costs still sky high, governments have recently cut back subsidies dramatically, thus making investment in solar modules less attractive. Massive competition from low-cost countries in Asia, including China, have led to plummeting prices and over capacity in solar module supply.

via Back To Petroleum! – BP Shuts Down Solar Business – “Also In Germany Solar Industry Faces Collapse”.

All Some from the same blog post: German manufacturer Solar Millenium announces it is insolvent –Read at Der Spiegel!

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About Russ Steele
Freelance writer and climate change blogger. Russ spent twenty years in the Air Force as a navigator specializing in electronics warfare and digital systems. After his service he was employed for sixteen years as concept developer for TRW, an aerospace and automotive company, and then was CEO of a non-profit Internet provider for 18 months. Russ's articles have appeared in Comstock's Business, Capitol Journal, Trailer Life, Monitoring Times, and Idaho Magazine.

One Response to Another Green Fail: BP Shuts Down Solar Business – “Also In Germany Solar Industry Faces Collapse”

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