25 March 2013 : As we discussed in the February 5 2013 post Chinese ’Big Name’ Solar Panel Manufacturers In Financial Strife ? the combination of the ‘global oversupply’ of solar panels coupled with downward price pressure was pointing to financial difficulties for some of the ‘big name’ Chinese solar panel manufacturers. It has been reported that Suntech (at one stage the world’s largest p.v. manufacturer) has indeed gone into bankruptcy. Suntech’s technology came out of the University of N.S.W. and for many years Suntech had an excellent reputation in the market place and many South Australian roofs have Suntech solar panels installed on them. It appears as though other significant Chinese solar panel may also be facing financial difficulties as they have high debt levels and and have reported losses recently.
An important question for Adelaide home owners who currently have Suntech solar panels installed as part of their p.v. system is will the warranties on the solar panels be honoured should a claim need to be made. Some manufacturers reportedly have warranty insurance whilst others do not . We will follow and update this story.