China Solar Industry's Path to Success

There are very few solar companies globally which are currently truly differentiated. China's solar companies have been successfully finding other ways to make money. You can generate good investment returns by cost efficiency. This is Suntech's main strength and will continue to make the company profitable. Trina may be able to combine low costs with an efficient balance sheet and a moderate capex intensive business. Yingli, on the other hand, has cost efficiencies but is following a capex intensive model.