SEIA VP Whitten confident solar industry will grow
Solar Energy Industries Association (SEIA) Vice President of Communications Dan Whitten said on Thursday that SunEdison’s demise is not indicative of the solar industry overall.
SunEdison was one of the world’s largest solar energy utilities. The company filed for Chapter 11 bankruptcy on Thursday as the result of large debt accumulated through initiating acquisitions at an unstable rate. The company will initiate a court-supervised restructuring program in an attempt to regain stability within the company through downsizing and better operations management.
The announcement came as a surprise to most. Despite the news, however, Whitten expressed confidence in the solar industry and its projected growth, adding that he is confident that SunEdison’s misfortune is not indicative of a downtrend in the solar industry.
“This is a highly competitive industry with a massive upside,” Whitten said. “As with other rapidly growing and successful industries, not every company in the solar market is going to stand the test of time. SunEdison is just one company and today’s development does not reflect a trend of the broader industry. The solar industry is growing at warp speed. It took us 40 years to get to one million installations (which we have just done) and it will take us just two more years to hit two million and that, I think, illustrates the direction of the solar industry.”
The SEIA, established 42 years ago, is the national U.S. solar energy industry trade association, serving to advance the U.S. solar industry through advocacy and education and supporting the use of clean, affordable solar energy in America.
