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The European Union looks set to meet business demands by revamping its energy and climate policy in order to lower the price of energy and boost employment and growth. Critics warn, however, that appeasing big industry could mean higher prices for private consumers.

Boston based analysts Lux Research has announced that the solar sector is on the recovery path, set to reach a worth of US$155 billion in 2018. The industry is expected to ramp up rapidly to 61.7 GW market size in 2018 after modest growth to 35 GW in 2013. This is according to the “most-likely scenario” put forth by the analysts. China is set to leapfrog to become the largest market.

REC recently announced it has reduced by 50% its debt maturing in the second quarter of 2014, worth US$ 206 million (NOK 1.2 billion).

In a legal win for Canadian Solar Inc., a Chinese court has dismissed a request by LDK Solar to enforce an arbitration award decision by a state trade arbitration commission amounting to CNY 248.9 million ($40.1 million, €31.5 million) in connection with a contract dispute between the two companies.

Centrosolar Group AG’s creditors have overwhelmingly agreed to swap outstanding debt from a €50 million bond for 5.5 million newly issued shares in the German PV company.

The Federation of German Industry (BDI) and the Federation of German Wholesale, Foreign Trade and Services (BGA) have warned of the loss of thousands of jobs in Germany if the EU Commission imposes anti-dumping duties on photovoltaic products imported from China, according to a local newspaper.

The U.S. Department of Defense (DOD) is one of the world’s largest energy consumers. In recent years, all American military branches have changed their focus from fossil fuels to renewable energies. According to a SEIA report released today, renewable energies can help cut war casualties and costs with solar energy.

PV equipment manufacturer Applied Materials has posted its second quarter results for the fiscal year 2013. The Energy and Environmental Solutions (EES) segment recorded a GAAP operating loss of US$322 million, inclusive of impairment charges of $278 million.

Chinese PV manufacturer JA Solar has repaid the US$119 million for convertible bonds that was due May 15. The company has stated that it remains commited to meeting all debt obligations to protect the interests of stakeholders.

The EU anti-dumping Committee met on Wednesday to discuss the EU’s Commission’s plans to impose AD duties on Chinese solar imports of an average 47%, but no results were reached. The EU member states now have until May 24 to deliver their comments. EU sources say that there will be considerable discrepancy between the provisional AD import duties and the definitive decision on duties due in December.