It has been reported in New York City, New York by the Dow Jones Newswire that the General Electric Co. plans to shut down its only solar panel manufacturing facility that is located in Newark, Delaware because it is reported that its prices for solar panels fell below solar panel production cost.

General Electric Company's production facility in Maryland is reported to be a victim of a rapidly evolving solar panel market in which older United States plants are shutting down, reducing their production or outsourcing production abroad, mostly China, even though there are Chinese companies making plans to open new solar panel manufacturing facilities in the United States.

The reason given by the General Electric Company's spokeswoman was "mainly due to the challenges in the solar industry, including overcapacity levels that are twice demand and industry pricing that's below the cost of producing the panels."

General Electric Company is planning to stop manufacturing crystalline silicon solar panels by Jan. 1, 2010 and it is going to close the plant by the end of June 2010 according to their spokeswoman. The shame is that the plant currently employs eighty-two people and all are going to be laid off while receiving severance and benefits packages.

It has been reported that the price for crystalline silicon panels has dropped about 30% over the past 12 months and that as financing for solar panel installations disappeared around the globe and then as prices fell for the solar panels this meant that solar panel producers with higher costs of production saw their profit margins shrink and the decision was made to leave the United States.

British Petroleum's BP Solar International Inc., which is a part of giant oil company, BP PLC (BP), announced in April 2009 that it would close their solar panel production in Frederick, Maryland, as well as in Madrid, Sprain eliminating six hundred twenty (620) positions. It is also reported that they will outsource some of their manufacturing through Chinese suppliers.

It is also reported that Evergreen Solar Inc., is going to move its solar panel assembly facility from Devens, Massachusetts to China next year. It is also reported that Energy Conversion Devices Inc., which is a maker of thin-film solar panels is planning to move from its Michigan manufacturing site to China.
So if we are to read the news and believe what we are seeing, China is going to become the major supplier of Solar Panel clean electricity which is going to Green The World instead of good old ingenuity from the United States of America.

Forward Opportunities Online Business Association - 02/11/2011
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