Hanergy Holding Group Ltd., a Chinese thin-film solar panel maker, expects the technology it has backed to take a greater share of the market that’s dominated by silicon-based cells as the biggest manufacturers stumble.
“A new age represented by thin-film technology will come,” as silicon-based panel producers led by Suntech Power Holdings Co. Ltd. and LDK Solar Co. Ltd. suffered losses, Hanergy’s Chairman Li Hejun said in an interview. “The market demands cheaper equipment that features flexibility and with more applications.”
Hanergy acquired two overseas thin-film companies including California’s MiaSole Inc. in the past year to advance its technology and compete with First Solar Inc. (FSLR), the biggest maker of thin-film panels by shipments. Other rivals include Japan’s Solar Frontier and Sharp Corp. (6753)
The average silicon solar panel price has slumped 28 percent in the past year, while that of thin-film products were down 19 percent, according to data compiled by Bloomberg.