First Solar, a recipient of oodles of American taxpayer money, which is having lots of problems here in the US, and is being sued for deceiving the public, among others, is also having problems overseas
(LA Times) First Solar Inc. is laying off 2,000 workers and closing its plant in Frankfurt, Germany, in response to waning demand for solar panels and increased competition from China.
America’s largest maker of solar panels said the layoffs amount to 30 percent of its global workforce. Some cuts come from shutting down the Frankfurt (Oder) plant, where it doubled the number of employees to more than 1,200 just last year. The company will also shutter some production in Malaysia. Additional jobs will be cut in both Europe and the U.S.
Solar manufacturers have been hurt by the global recession, an influx of Chinese panels and declining subsidy programs in Europe. Germany, the world’s largest market for solar power, announced in February that it would cut solar subsidies by 30 percent.
They’ve also been hurt by their products being priced beyond what most individuals and private companies will pay, especially when the investment tends to me a money loser. But, hey, it’s obvious that the business model, taking taxpayer money and squandering it on worthless products “that are cheaper and less efficient than their competitors” but are still more expensive than old school energy products in an attempt to stop ‘climate change’ can’t possibly be the problem.
