Interesting report about the solar / clean-tech supply chain in Japan and China. With the data points Jesse Pichel gathered from their tour in Japan and China, they conclude that 1) 2012 global solar demand will be flat: pronounced declines in Europe (especially Italy) will be somewhat mitigated by strong growth in China, Japan, and the USA with 2H12>1H; 2) global solar growth will resume in 2013 on easier comps in Europe, significant growth in Japan, China, and the USA, and initial demand from new markets in
the Middle East, Africa, South America, and Southeast Asia/India; and 3) China will be the
largest demand driver for 2012 and 2013.
Please see attached Report for more information: AE_2011-12-21.pdf