Chinese solar panel manufacturers have grabbed a large global market share by driving down production costs even quicker than most in the industry expected.
As a result, U.S. solar startups that had grand plans for beating Chinese firms like Suntech Power Holdings (NYSE: STP) and Trina Solar (NYSE TSL) to the punch, are now looking for niches in which they can survive and grow.
A New York Times report looks at how companies like Solyndra, Nanosolar and MiaSole, which are just now beginning mass production, are trying to deal with the changing economics of the industry.
“The solar market has changed so much it’s almost enough to make you want to cry,” said Joseph Laia, chief executive of MiaSolé. “We have spent a lot more time and energy focusing on costs a year or two before we thought we had to.”
Read the full story at the link below.