| In the News |
Life sciences CEOs line up questions for ObamaDays before the inauguration of President Barack Obama, Mass High Tech asked a handful of CEOs from life sciences companies for their thoughts on what impact on their industry sectors they expect from the new administration, the economic crisis and the Massachusetts Life Sciences Bill. Their comments to three questions on the new president are here. Clouds Over the Solar Power IndustryAs oil prices have plunged, solar has become less cost-competitive. And the credit squeeze has made it harder to finance solar projects If the recent five-year boom in solar energy marked the birth of a global industry, the next half-decade should be its coming of age. But like most adolescents, solar is experiencing growing pains. The economic crisis has weakened demand for everything from polysilicon to rooftop panels, just as manufacturers have spent billions expanding production. The overcapacity has caused prices to plummet and left the industry financially exposed. A number of companies—especially startups—may not survive a shakeout that could last 18 months or longer. The causes of the downturn are complex and interrelated. As the price of oil plunged from its peak last summer, solar and other forms of renewable energy became relatively less cost-competitive—dampening demand from industrial, commercial, and residential customers. At the same time, the credit squeeze has made it harder for customers, whether power companies or energy-conscious homeowners, to finance solar projects. Some also are holding back in anticipation that solar equipment prices will fall even further. |
