Direct competitors to Suntech Power, according to Revere Data, include Baoding, China-based Yingli Green Energy Holding and JA Solar Holdings, based in Ningjin, China.

FORBES: Magazine Article

Some of that production is for North American companies like Canadian Solar, but among the fastest growing solar outfits are Chinese companies like Yingli Green Energy Holding and JA Solar Holdings.

FORBES: The China Clean Tech Divide: Threat Or Opportunity?

Already this week, both JA Solar and Yingli Green Energy reduced their outlook for full year shipments after posting discouraging Q2 results, as prices continue to fall in the face of slack demand.

FORBES: Connect

While Silicon Valley companies were working on the problem, silicon prices fell and Chinese companies like JA Solar, Suntech and Yingli Green Energy rapidly expanded production of conventional solar panels, supported by tens of billions of dollars in inexpensive credit from the Chinese government as well as other subsidies like cheap land.

FORBES: Can China Save Silicon Valley's Struggling Solar Technology?

In response, Piper today reduced ratings on Canadian Solar (CSIQ), JA Solar (JASO), SunPower (SPWRA), Yingli Green Energy (YGE), Trina Solar (TSL) and Suntech (STP).

FORBES: Connect