In another sign of a tough photovoltaic market, Chinese cell and module manufacturer Hanwha Solar Co. has posted a small loss for the second quarter (Q2) of 2011. Reduced gross profits and increased operating expenses were blamed for the RMB32.3 million (USD$5 million) loss.

Industry analysts IMS Research has released its quarterly PV Inverter Supply and Demand report, which shows that, while shipment volumes have increased markedly over the year, falling prices have resulted in decreased revenues for inverter suppliers.

In a demonstration of photovoltaics’ rapid expansion in the U.S., entrepreneurial and business magazine Inc. has named a number of solar companies in its list of the country’s fastest growing businesses. The 2011 Inc. 500|500 was announced yesterday.

The Australian National University (ANU) has been working with the Australian Defense Force (ADF) to produce wearable photovoltaic cells for its soldiers. The researchers claim the resultant SILVER solar cells are efficient, rugged, flexible and light.

Vertically integrated manufacturer Trina Solar has continued to operate profitably, after today reporting an operating income of USD$32.8 million for the second quarter (Q2) of 2011. Module shipments worth 396 megawatts (MW) were also reported.

Upstream photovoltaic equipment manufacturers Meyer Burger Technology Ltd. has continued its strong start to 2011, posting a strong second quarter (Q2) earnings before interest, taxes, depreciation, and amortization (EBITDA) margin.

In what is believed to be the country’s largest publicly funded photovoltaic installation for affordable housing, the Housing Authority of the County of Santa Barbara (HACSB) has installed residential solar systems for 863 low-income housing units. The project cost USD$12.25 million.

In more disappointing photovoltaic financials, Chinese manufacturer LDK Solar has revised down its second quarter (Q2) guidance for gross revenue by around $250 million, squeezing gross margins to only around two percent.

As part of a project to predict output levels from large solar parks, the vast Copper Mountain solar complex will be equipped with cloud imaging devices called Total Sky Imagers (TSIs). The U.S. Department of Energy (DOE) is funding the project as a part of its SunShot Initiative.

Citigroup Inc. announced today that it will create a US$50 million fund with photovoltaic lease provider Sungevity, for installations in eight states. The funds will facilitate residential solar installations in Arizona, California, Colorado, Delaware, Massachusetts, Maryland and New York.