German photovoltaic manufacturers report 35% plunge in Q1 2013 revenue
Jul 8, 2013 - Manufacturers in the German photovoltaic sector saw revenue drop 35% on the year in the first quarter of 2013, engineering industry association VDMA said on Monday.
Revenue in the sector has been declining since the second half of 2011 due to oversupply, constantly shifting regulations and a multitude of trade conflicts, VDMA said.
In addition, the companies, which make components, machines and equipment that convert sunlight into energy, are struggling to obtain financing.
However, German photovoltaic suppliers remain strong competitors on international level with a global market share of 50% as of the beginning of the year. About 92% of the first-quarter revenue was generated abroad, with China and Taiwan being the major export destinations.