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Milton Financials: Phoenix Solar expects an increase in demand in 4th quarter.
German solar wholesaler says it expects a recovery in demand in the fourth quarter but sees no booming demand.
"We still expect good business at the end of the year, but it won't be a year-end rally," Phoenix Solar's Chief Executive Andreas Haenel told Milton Financial sources recently.
Because of higher sector subsidies many German customers flocked to buy solar modules in the final three months of last year, when almost 60% of full-year solar capacities was added.
With feed-in tariffs playing a strong role, demand for solar modules soared in 2010, bringing the total of new installations to about 5.4 GW in the first nine months, as compared with 3.9 GW for the entire 2009.
A hefty one-off cut after July , however, caused a major decrease in the third-quarter, Milton Financials has learned from data available from the German network agency which indicates that new installations of solar power decreased to 1.52 GW, less than half the record 3.14 GW added in the second quarter when subsidies were still full strength.
Because of the decline, many solar firms including Phoenix Solar, Solar World and Q-Cells have had to turn their focus beyond German borders, Milton Financials has learned.
"The international business has grown significantly in the third quarter, but cannot offset the decrease in our domestic market," Haenel told reporters, declining to give further details ahead of the company's results on November 10.
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