Another feed-in tariff success story
Off the back of the German solar feeding tariff laws, Solarworld AG built a thriving solar panel export business that is now a truly global player, with 1.4GW capacity expected to be online by the end of this year.
As a result of continued success, SolarWorld Groupwide earnings before interest and tax (EBIT) increased in financial year 2010 by 26 % , climbing 40.0 million euros to € 192.8m (for comparison, in 2009 it was € 152.8m). This stellar result was achieved by increasing volumes in the face of low industry pricing.
Solarbuzz reports that Dr.-Ing. E.h. Frank Asbeck made the following comment: “The year 2010 was turbulent. Our sales developed vigorously in the international solar markets and, above all in the second half of the year, shifted from our core market, Germany, to other European markets and the United States.”
Consequently, the foreign sales quota in 2010 increased by 14 percentage points to 59 (2009: 45) percent.
