REC to Recall All of Its Solar Panels From 2008
Greentech Media
Renewable Energy Corp will repair or change all of the solar panelsit sold in 2008 and a quarter of those it sold in 2007 because of amanufacturing defect, according to Dagens Naeringsliv.
The total comes to around 420,000 solar panels. So far 100,000panels have been returned. The whole exercise will cost around $56million.
A recall like that, of course, just makes a bad situation worse forREC. Sales plummeted late last year with the economic downturn. Salesin Spain were particularly hard hit. The country actually surpassed Germanyto become the largest solar market in the world due to a high feed-intariff. But it also caused a land rush that lead to an oversupply ofpanels. Although some parts of the world economy have shown signs ofstabilization, solar prices continue to decline.
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