Monday, May 30, 2005

Big Solar Company Profitable

It has been a pioneer of solar photovoltaic cells for the commercial market in India, via its joint venture with the Tata Group called Tata BP Solar.

Globally, like it has become fashionable of late, BP Global, is distancing itself from its past. It's earlier name was British Petroleum, but of late it says BP stands for "Beyond Petroleum". Whatever the merit of that statement, BP Solar, their solar division, is among the largest solar companies in the world. In 2004, the solar industry grew 40% overall, and perhaps riding the boom, BP Solar was finally profitable. This is great news because if BP can keep this up, it points to an impending flood of new companies into the field, which will further drive the prices down.

We already have these new generation technology companies knocking though.