Solar Companies Looking for Capital Look Beyond Wall Street
The still-emerging solar power industry is hoping to return next year to its annual growth rate of 50 percent after a difficult year of falling panel prices and tight credit. To compete and gain market share, many solar companies are looking to boost their output of panels, a process that often requires outside capital. But in this current market, they are having a difficult time raising money from large Wall Street banks who are nervous about backing risky and capital intensive ventures. These solar companies are turning to government sources, state-owned banks for Chinese players and small investment advisory firms, who are now stepping into the shoes of the big banks.