This article takes a look at the sudden decline of the photovoltaics industry. Low demand, massive oversupply of products and materials, price decline - the photovoltaics industry is experiencing hard times. In December Solon became the first renowned module producer to be declared bankrupt. Schott Solar from Mainz, Germany, followed suit a month later, and closed its wafer production in Jena. And now the crisis is touching even China's solar industry which has been booming until now. "Nearly all Chinese producers are reducing their lines,", said Stefan de Haan, analyst with the USA market research company IHS iSuppli. However, there is hope that the solar market will soon catch an updraught again. According to a current analysis by the International Energy Agency, IEA, photovoltaics and solar thermal power plants will advance to be the most important energy source by the year 2060 and will cover more than half of worldwide power requirements.
