Soaring material costs, supply chain constraints, and intensified price competition are some of the reasons why LG Electronics Inc. will shutter its solar factory in Huntsville, Alabama, according to a company press release.
“The decision comes as uncertainties in the global solar panel business continue to increase due to a variety of contributing factors, including the intensification of price competition and the rising cost of raw materials,” LG said.
Soaring commodity prices have sent solar-grade polysilicon prices up more than 550% in the last two years. Polysilicon is a critical raw material in producing solar photovoltaic cells for panels.
Trending:
- Ellen Brown: The Looming Quadrillion Dollar Derivatives Tsunami
- Janet Yellen Just Poured Lighter Fluid On Every Small Bank In America
- The Great Financial Collapse of 2023. Comparison of Bear Stearns’ collapse in March 2008 and Credit Suisse in March 2023.
- Ron DeSantis unveils legislation to BAN Central Bank Digital Currency in Florida, protecting citizens from a grave threat to civil liberties…
- Never in history have we had all three issues happening at once…
- Clearwater Mayor abruptly resigns… Council members left in stunned silence
- Sperm has been almost entirely replaced by spike proteins
- People are crashing…
- Armstrong: WOKE Culture is Destroying the Economy & our Nation
- 2023: A Year When Everything Is Suddenly Breaking Loose All At Once
Views: 16