SolarWorld's blames falling Q3 revenue on Chinese competition
Photovoltaic module manufacturer SolarWorld has blamed Chinese PV companies for a significant reduction in the average selling price for its photovoltaic modules in the third quarter. The German manufacturer reported an 8% reduction in revenue versus Q2 with the volume of sales flatlining. 

Integrated PV module manufacturer SolarWorld has reported preliminary third quarter 2016 financial results that reflect the impact of overcapacity and global solar panel price declines after recently discarding both its revenue and profit guidance for the year.

SolarWorld reported total product shipments (modules, mounting systems & inverters) of 345MW in the third quarter of 2016, compared to 342MW in the previous quarter.

Total product shipments have flat lined throughout 2016, although shipments are up significantly from the first nine months of 2015 when shipments reached 755MW, compared to 1,028MW in the first nine months of 2016, a 31% increase.