RenewableEnergyWorld.com 2/10/2010

Financial Crisis Paves the Way for Chinese Solar Giants

A slumping global polysilicon price and a competitive advantage in processing cost have given Chinese solar PV manufacturers a boost over their competitors globally.

But cost competitiveness isn’t China’s only advantage, said analyst Jiang Qian with Shenzhen Zhongzhe Investment Consulting Co. "China's well-developed supply chain, cheap electricity, supportive policies and even low environmental standards, all contribute. While, currently, solar manufacturing conditions in Malaysia still lag behind."

Another major advantage for Chinese solar companies is their ready access to finance amid the global economic downturn. Backed by China's preferential policies towards renewable energy, domestic solar modules makers have benefited from supportive local banks.