Solar news now,Crystal Solar Files Patent Infringement Suit Against VSUN Solar

Crystal Solar Files Patent Infringement Suit Against VSUN Solar

Crystal Solar, a leading player in the global solar energy market, has recently filed a patent infringement lawsuit against VSUN Solar USA, Inc., Toyo Co., Ltd., and their related entities in the United States. The lawsuit was filed on December 7, 2024, in the Northern District of California, San Francisco Division. Crystal Solar claims that VSUN Solar and Toyo have violated its patents, which include over 2,800 authorized patents, with 462 of them related to the cutting-edge N-type TOPCon technology.

Crystal Solar has invested heavily in research and development, which has helped it gain a leading position in the global solar panel market. The company is committed to protecting its intellectual property rights and ensuring that its products are not harmed by infringing products. Louise Lu, a patent litigation lawyer at Bogle-Lewis LLP, stated that Crystal Solar will vigorously defend its intellectual property rights.

First Solar’s Q3 Results Fall Short of Expectations, Downgrades Full-Year Guidance

First Solar, a major solar panel manufacturer, reported its third-quarter financial results on October 30, 2024. The company’s net sales were $8.87 billion, a 10.8% increase from the same period last year. However, this fell short of the market’s expectation of $10.8 billion. The company’s net profit was $313 million, a 16.6% increase from the previous year, while the EPS was $2.91, slightly below the market’s expectation of $3.11.

The company attributed the lower-than-expected sales to a significant decline in residential installations and challenges faced by utility-scale projects, including prolonged grid connection wait times and a shortage of skilled labor. First Solar now expects full-year sales to be between $41 billion and $42.5 billion, down from its previous guidance of $44 billion to $46 billion, and below the market’s expectation of $44.4 billion. The adjusted EPS is now expected to be between $13 and $13.5, down from the previous guidance of $13 to $14 and below the market’s expectation of $13.49.

ACME Solar’s IPO Receives Strong Demand, Oversubscribed by Nearly 3 Times

Indian solar energy company ACME Solar Holdings successfully completed its initial public offering (IPO) with strong demand, receiving nearly 3 times the oversubscription. The IPO raised 290 billion rupees (approximately $3.4485 billion). The IPO was completed on November 8, 2024, and the shares are expected to be listed on the BSE and NSE stock exchanges on November 13, 2024.

The IPO was well-received by both domestic and international institutional investors, including Japan’s MF, HDFC MF, ICICI Prudential MF, and Abu Dhabi investment institutions. In the share allocation, 15 million shares were allocated to eight domestic mutual funds, accounting for approximately 33.34% of the anchor book. According to Mercom’s Q2 2024 India Solar Market Update report, the total new solar projects in India in the first half of 2024 were 14.9 GW, a growth of over 282% from the same period in 2023.

Chint New Energy Attends Sustainable Solar Europe

Chint New Energy, a subsidiary of Chint Group, was invited to attend the 2024 European Sustainable Solar Summit in Brussels, Belgium, on December 12. The summit, organized by Sustainable Solar Europe, provided a platform for global solar industry professionals to exchange and communicate. Chint New Energy actively shared its experience in reducing product carbon footprint and contributed to the industry’s low-carbon development.

Jerzy Rudnicki, a senior technical manager at Chint New Energy, highlighted the company’s sustainable development strategy during the conference. The company has set strategic goals in major issues such as climate change response, natural resource management, labor and human rights, occupational health and safety, business ethics, supply chain management, and biodiversity protection, with 2028 and 2035 as time nodes. Chint New Energy has committed to achieving full-value chain carbon neutrality by 2050.

Chint New Energy has implemented low-carbon concepts in all aspects of its operations. The company has introduced clean energy into its production process, installed distributed photovoltaic projects on the roofs of its bases in Haining, Zhejiang, and Yancheng, Jiangsu, to help reduce carbon emissions. In addition, Chint New Energy’s ASTRO N7s series of module products use ZBB-TF technology, which cancels the flux used in the traditional welding process, avoiding the emission of harmful gases and making the production process more environmentally friendly.