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Yesterday, Panasonic reported a 3% decline in its Eco Solutions business to 1.
61 trillion yen (about $14.
8 billion)
in fiscal 2016 financial results.
In addition, the profit of the division fell by 18% to 78.
4 billion yen, and the profit margin was only 5%.
Panasonic said the decline was mainly due to a decline
in sales of residential solar PV systems in Japan.
According to Japanese media reports, due to lagging market demand, the company closed a 270MW photovoltaic cell plant
in Japan.
Panasonic utilizes heterojunction designs to provide high-efficiency photovoltaic modules
for residential and small commercial markets.
And Panasonic is not the only company reporting a contraction in Japan, Kyocera also reported a decline
in revenue from its photovoltaic module division this week.
A year ago, Japan cut the feed-in tariff subsidy for systems smaller than 10kW to 33 yen ($0.
31) per kilowatt-hour, an 11 percent
cut.
Although this level is still high compared to other countries, Japan's system costs are high
.
A study by the Japan Solar Power Association (JPEA) found that Japan's PV cell and module shipments declined
quarterly, following a peak in the first three months of 2015.
Future growth investments in Panasonic's automotive and battery storage businesses impacted
the performance of the Automotive and Industrial Systems divisions.
In partnership with Tesla, Panasonic is building the world's largest lithium-ion battery manufacturing plant in Nevada, which was scheduled to begin production
earlier this year.
Yesterday, Panasonic reported a 3% decline in its Eco Solutions business to 1.
61 trillion yen (about $14.
8 billion)
in fiscal 2016 financial results.
In addition, the profit of the division fell by 18% to 78.
4 billion yen, and the profit margin was only 5%.
Panasonic said the decline was mainly due to a decline
in sales of residential solar PV systems in Japan.
According to Japanese media reports, due to lagging market demand, the company closed a 270MW photovoltaic cell plant
in Japan.
Panasonic utilizes heterojunction designs to provide high-efficiency photovoltaic modules
for residential and small commercial markets.
And Panasonic is not the only company reporting a contraction in Japan, Kyocera also reported a decline
in revenue from its photovoltaic module division this week.
A year ago, Japan cut the feed-in tariff subsidy for systems smaller than 10kW to 33 yen ($0.
31) per kilowatt-hour, an 11 percent
cut.
Although this level is still high compared to other countries, Japan's system costs are high
.
A study by the Japan Solar Power Association (JPEA) found that Japan's PV cell and module shipments declined
quarterly, following a peak in the first three months of 2015.
Future growth investments in Panasonic's automotive and battery storage businesses impacted
the performance of the Automotive and Industrial Systems divisions.
In partnership with Tesla, Panasonic is building the world's largest lithium-ion battery manufacturing plant in Nevada, which was scheduled to begin production
earlier this year.
