If silicon had remained high priced it might even have worked: but as they were ramping up production into a world where the raw silicon ingot had just fallen to 10% of its previous price they were doomed.

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Take Sharp, which since 2000 has led the world in solar panels sold (it dropped to No. 2 last year in the midst of a silicon raw-material shortage).

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Your raw material is silicon ingot, itself made from sand.

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