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BP Exits Solar Business, Citing Cost Difficulties And Product Commoditization

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  • ralph parrott
    in News Departments
    Message 1 of 2 , Dec 23, 2011
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      in News Departments > New & Noteworthy

      by SI Staff on Wednesday 21 December 2011

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      BP has eliminated the remainder of its solar power group, stating that it is no longer able to make money in the business.

      The Guardian
      reports that Mike Petrucci, chief executive of BP Solar, has sent a letter to the 100 employees that remained in the solar group, telling them that "the continuing global economic challenges have significantly impacted the solar industry, making it difficult to sustain long-term returns for the company."

      Declining module prices, competition from low-cost Chinese producers and what the company saw as increasing commoditization in the solar sector reportedly led to the decision.

      BP has been gradually ramping down its solar activities in recent years, including closing its Maryland factory in July as part of a refocusing on solar development rather than manufacturing.

       

       

      Ralph Parrott

       

      President

      http://www.txses.org/hreg

       

       

    • Jim & Janet
      Personally I won t miss BP Solar. They have never been truly focused on PV in a sustainable sense, only financial. I recall 5-6 years ago when BP refused to
      Message 2 of 2 , Dec 23, 2011
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        Personally I won't miss BP Solar. They have never been truly focused on PV in a sustainable sense, only financial.
        I recall 5-6 years ago when BP refused to sell their PV modules in Texas because there were no statewide incentives available.
        Even Southwest PV in Tomball [now Ameresco Solar] a longtime and exclusive BP distributor was not able to buy PV from them. BP has always been an oil company first and I would just as soon they stay out of the renewable energy industry.
        My 2ยข
         
        Jim Duncan
        North Texas Renewable Energy
        817.917.0527
        ntrei@...
        TECL 27398
        NABCEP Solar PV
        Certified 031310-57
        www.ntrei.com

         
         
        ----- Original Message -----
        Sent: Friday, December 23, 2011 6:56 PM
        Subject: [hreg] BP Exits Solar Business, Citing Cost Difficulties And Product Commoditization

         

        in News Departments > New & Noteworthy

        by SI Staff on Wednesday 21 December 2011

        email the content itemprint the content item

        comments: 0


        BP has eliminated the remainder of its solar power group, stating that it is no longer able to make money in the business.

        The Guardian
        reports that Mike Petrucci, chief executive of BP Solar, has sent a letter to the 100 employees that remained in the solar group, telling them that "the continuing global economic challenges have significantly impacted the solar industry, making it difficult to sustain long-term returns for the company."

        Declining module prices, competition from low-cost Chinese producers and what the company saw as increasing commoditization in the solar sector reportedly led to the decision.

        BP has been gradually ramping down its solar activities in recent years, including closing its Maryland factory in July as part of a refocusing on solar development rather than manufacturing.

        Ralph Parrott

        President

        http://www.txses.org/hreg

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