The Chinese solar panel industry is not going to get any relief from the European Union as EU is stubborn over the tariffs on Chinese made photovoltaics.

China and the E. U. agreed to hold discussions over alleged dumping by China into Europe, undercutting local solar panel producers.

According to recent reports, the European Commission has raided the offices of the oil and gas companies including BP, Shell and Statoil, and also that of the Platts, which is an oil price reporting agency.

A recent report on the PV-Tech site has revealed that German engineering company Bosch has announced its decision to abandon its solar energy business which, as per the company, will no longer be able to remain economically viable; thanks largely to overcapacity in the industry as well as immense price pressure.

Tech giant Google is investing heavily in green (renewable) energy because the bottom-line results of its investments are supported by data, Google's director of energy & sustainability Rick Needham said.

Speaking at the Cleantech Forum in San Francisco, Needham said that while prices of fossil fuels were going up, renewable prices were on the decline.