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The largest solar-panel maker Yingli Green Energy said it expects to be profitable in the third quarter. It joins peers including JinkoSolar, Trina Solar and JA Solar in guiding investors to expect both income and higher shipments in 2014.

Climbing demand for solar panels is countering a global oversupply of production capacity that erased profits across the industry and bankrupted more than a dozen companies. Developers installed 37.5 gigawatts of panels worldwide last year, up 22 per cent from 2012, and that figure may increase as much as 39 per cent this year, according to data compiled by Bloomberg.

That growth is starting to “sponge up” much of the glut, especially among Chinese manufacturers, that resulted from a buildup in the late 2000s, Pavel Molchanov, an analyst at Raymond James & Associates in Houston, said in an interview. “That has made a real dent in the overcapacity.”

The largest solar manufacturers have cut expenses and are poised to take advantage of growth this year, said Nimal Vallipuram, an analyst at Gilford Securities Inc. in New York.

“They continue to do very well at reducing the costs and their volume is going up very strongly,” he said. “Demand has come back with a vengeance.”  http://www.smh.com.au/business/carbon-economy/solar-pv-rebounds-as-demand-comes-back–with-a-vengeance-20140320-353ir.html