First Solar Inc. Chairman Mike Ahearn has found the best way to make money from photovoltaics is to sell whole power plants to Warren Buffett and NextEra Energy Inc. instead of competing with China on panel sales.
First Solar Inc. and SunPower Corp., the two largest U.S. solar companies, said restructuring efforts this quarter will improve 2012 results after posting first- quarter losses that exceeded analyst’s estimates.
China’s success in wresting control of the solar industry is erasing an advantage for U.S. suppliers led by First Solar Inc., which use a rival technology supported with $5.5 billion in government loan guarantees.
U.S. stocks fell, halting a three- day rally, as United Parcel Service Inc. slumped, economic reports missed estimates and uncertainty grew over how much progress European leaders are making in debt-crisis talks.
China delayed the approval of preferential tariff rates for solar electricity that First Solar Inc. says are essential for the viability of its photovoltaic solar plant in Inner Mongolia, President Bruce Sohn said.