We see the fundamentals for solar as still somewhat unstable. We believe module oversupply is being exacerbated by liberal lending practices among Chinese banks which continue to support many public cell and module plays with ever larger amounts of short-term debt, leading to a disincentive to rationalize industry capacity. Conversely, in Europe, the financial institutions historically responsible for the bulk of project lending in the renewables space remain focused on fixing their own balance sheets and unable to fund significant amounts for traditional project lending time frames, apart from key projects in Germany.