First Solar<\/strong> is moving to its next generation technology Series 6<\/strong> as it thinks that its interim technology Series 5 cannot compete with the costs and prices of solar panels being solar by Chinese giants like GCL Poly<\/strong> and Longi\u00a0Silicon<\/strong>. The competition has suddenly become increasingly fierce in 2016 with solar panel prices falling by an incredible 26%. This has led to most solar companies falling into the red as they were unable to cope up with the steep change in the cost curve. Only a few large companies such as Jinko Solar and Longi have managed to keep themselves in the black in another huge down year for the solar manufacturers. Even as the solar installation industry continued to make new records with installations touching more than 75 GW, the solar manufacturers found the going increasingly tough.<\/p>\n Read about the Chinese Dominance in Solar Industry:<\/em><\/strong><\/p>\n Some of the major solar panel makers have been forced to drastically change their strategies with Solarworld<\/strong> and Neo Solar<\/strong> announcing that they would completely stop their multicrystalline silicon panel production and move to monocrystalline<\/strong>. Sunpower has also closed a large chunk of its existing solar panel capacity finding it tough to run them at the prices. It now wants to work more closely with Chinese companies to build new technology facilities in China.<\/p>\n![\"fslr\"](\"http:\/\/www.greenworldinvestor.com\/wp-content\/uploads\/2017\/02\/fslr.jpg\")
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