Tough Times for the Solar Panel Industry

The once booming solar panel industry has hit some difficult times. According to a report from Common Dreams, supply has exceeded demand, which has resulted in factory closures and a loss of jobs. Four years ago, with surging energy prices and a looming recession, hundreds of solar panel manufacturing plants were built to meet rising demand. Now with a weakened economy and a cheap supply of natural gas, only a handful of solar panel manufacturers remain profitable.While solar panels, or photovoltaic energy as its known to industry insiders, is struggling, the market for solar thermal energy remains steady.

Mike Fitzgerald, the owner of Gresham based Eco Systems explains.