10 August 2015, Climate Network News, Clouds over China’s solar power industry. China is by far the world’s biggest producer of solar panels, but the industry could become a victim of its own success. The recent turmoil in China’s stock market has sent shockwaves through the country’s corporate sector, including its mighty solar power industry which in recent years has grown to dominate the world market. Harnessing solar energy is considered a key way of cutting back on fossil fuel use and of meeting the challenge posed by climate change. Seven out of the world’s top ten manufacturers of solar panels are China-based companies, together providing about 40% of global solar supplies. But now the industry’s future expansion is under threat as companies try to cope with too much production capacity, very low profit margins and crushing amounts of debt. In 2013 Suntech, a Chinese company which was at one time the world’s biggest manufacturer,went bust. International creditors are still trying to recoup millions lent to the company. Read More here