LDK Solar just announced that is has revised its outlook for the 2nd quarter. According to Reuters, the revised outlook is still disappointing, with revenue down from $283.3 million in the first quarter to between $215 to $225 million in the second quarter.  The estimates are between $25 and $35 million lower than what analysts had expected, as well.  However, the company did raise the amount of second-quarter wafer shipments that it expects to ship to 220-230 MW, a 10 MW increase from earlier estimates.

The Reuters article quoted CLSA analyst Charles Yonts as having a somewhat gloomy outlook on LDK in the near term, saying

“We estimate that higher-than-spot price production costs and particularly intense price wars for solar wafers will lead LDK to losses next year.”

However, the company just obtained an additional $146 million worth of loans from two Chinese banks, and LDK CEO Xiaofeng Peng was quoted as having a sunnier view of the company’s future:

“We are encouraged by the recent improvement in market demand and expect to resume the expansion of our wafer plant.”

>>> Click Here For Your Free LDK Solar Analysis

Tate posted last month about speculation that Suntech was working on a 500MW deal in China. Today, Suntech’s press office confirmed the deal for PV-tech.org. The article quotes an unnamed source from Suntech as saying that the deal is  “a non-binding strategic agreement similar to our agreement with the Qinghai government.”  Suntech reportedly signed the agreement on June 26th.

Under the agreement,Suntech will invest almost $1.2 billion in a 500MW solar project in Panzhihua, China. In the PV-tech.org article, Barclay’s analyst Visal Shah commented on the significance of the news:

“We believe STP remains well positioned to emerge as an industry leader given strong traction in both Chinese and U.S utility scale solar markets. More importantly, prospects within the Chinese solar market appear promising – if some of these projects get developed, China could potentially become the third largest market in 2012 (behind U.S and Germany).”

>>> Click Here For Your Free Suntech Power Analysis

Itron just announced that it is partnering with Ambient Corporation to integrate Itron’s smart grid and AMI components with Ambient’s smart grid communications platform. The partnership, created under a memorandum of understanding signed by both companies, will allow Itron and Ambient to join together and provide a complete smart grid system for utility customers.

The agreement will integrate Itron’s OpenWay advanced metering application with Ambient’s Smart Grid communications technology. This will enable legacy equipment to be connected with advanced smart energy applications, broadening the reach of both company’s products.

In a press release, executives from both companies commented on the agreement:

Itron North America senior vice president and chief operating officer Philip Mezey said, “This is further proof that the OpenWay architecture is adaptable to multiple networks in support of smart grid deployments. Building the smart grid requires unprecedented collaboration. Our partnership with Ambient will help both our companies extend smart grid benefits to more energy users.”

John J. Joyce, president and chief executive officer of Ambient, said, “This partnership brings together Itron’s core consumer and commercial AMI technologies with Ambient’s high-capacity communications network for a complete ‘utility to the home’ smart grid solution.”

::: >>> Click Here For Your Free Itron Analysis

Suntech Power just announced that it has obtained a convertible loan for $50 million from International Finance Corporation. The 7-year loan agreement carries a fixed annual interest rate of 5.0 percent and can be converted into an ADS share for $18 per share.

In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, commented on the loan:

“We are pleased that IFC, a world class investment institution that supports sustainable development, has agreed to provide Suntech with a convertible loan of $50 million. These additional funds will strengthen Suntech’s financial position and support our transition to the high efficiency Pluto technology as we progress towards our goal of providing grid parity solar solutions.”

“IFC is pleased to support Suntech, one of the leaders in the solar PV industry,” said Randall Riopelle, Manager, Global Manufacturing & Services Department. “We are pleased to be partnering with a company focused on developing best in class technology and which has demonstrated a firm commitment to the highest corporate responsibility standards. We look forward to working with Suntech as solar energy becomes an increasingly important source of renewable energy for China and for the world.”

::: >>> Click Here For Your Free Suntech Power Analysis

In an effort to reduce the costs associated with energy use for streelights, the city of Palo Alto, California is demonstrating streetlights equipped with Echelon’s LonWorks technology. Echelon’s technology allows the lights to be managed remotely, as well as connecting them directly to maintenance software. By replacing all of its streetlights with more efficient models by 2015, the city will also reduce the amount of greenhouse gases it produces by 600 to 950 metric tons each year.

In a company press release, city officials and representatives from Echelon commented on the program:

Palo Alto is committed to implementing cost-effective energy efficiency measures and has been a leader in implementing new energy saving technologies. New streetlight technologies offer the benefits of reducing energy usage, reducing greenhouse gas emissions, and has the potential to improve overall light distribution and visibility on Palo Alto streets,” said Shiva Swaminathan, senior resource planner, City of Palo Alto.

“Echelon’s technology has been proven to reduce energy use in streetlights, and every city needs to reduce expenses at this moment,” said Anders Axelsson, Echelon’s senior vice-president of sales and marketing. “The technology allows cities to not only cut energy costs, but also cuts maintenance costs while improving light quality, decreasing light pollution, and providing increased safety.”

::: >>> Click Here For Your Free Echelon Analysis

Aerovironment just announced that it has received a phase II contract extension from DARPA for its nano air vehicle development program. For the program, Aerovironment has developed an air vehicle with two flapping wings that carries its own energy, and successfully tested the vehicle in December of last year. The contract extension, which provides an additional $2.1 million and runs through 2010,  will enable further development of this concept.

In a company press release, project manager Matt Keenon commented on the contract extension:

“From the first day of the Phase I effort, we knew that our biggest challenge would be to develop a viable propulsion system, followed by the extreme challenge of creating a control system for such complex operation at such a small scale. Both systems were extremely difficult to conceive and required an intense combination of creative, scientific, and artistic problem-solving skills from several key team members. Our progress has been possible only because of the unique R&D environment at AV.”

Keennon said the Phase II effort will focus on optimizing the aircraft for longer flight endurance, establishing the transition capability from hover to forward flight and back, and reducing its size, weight, and acoustic signature. “All of these are distinct technical challenges in their own right that actually conflict with each other, making for an interesting and exciting path ahead,” he said.

::: >>> Click Here For Your Free Aerovironment Analysis

Yingli Green Energy just announced that it will supply its PV solar modules to SDIC Huajing. Yingli was selected by SDIC Huajing to supply the company with solar modules to power its 10 MW on-grid solar power plant project in Dunhuang, Gansu Province. The plant has already been given the green light by the province’s Development and Reform Commission.

In a company press release, executives from both companies commented on the agreement:

“We are pleased to be partnering with Yingli Green Energy, one of the leading global manufacturers of PV modules, to develop the Dunhuang project together,” commented Mr. Weidong Wang, General Manager of SDIC Huajing. “As a leading state owned electricity supplier, we have both the responsibility and opportunity to make renewable energy a reality in China, and we believe this 10 MW project demonstrates our commitment to this goal. Our advantage lies in our ability to leverage our established network of existing traditional power projects and manpower already on the ground in Gansu. We are confident that western regions such as Dunhuang will be big markets for solar power as they receive abundant natural sunlight and local governments are very open to investments by solar companies.”

“We are very pleased to have established this strategic alliance with SDIC Huajing,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “As part of our strategy to build a greater presence in China’s domestic solar market, we are seeking to establish strategic relationships with leading grid companies, such as SDIC Huajing, whose wealth of experience in China’s power supply market gives them unique insights into the domestic solar market.”

Mr. Miao continued, “Moreover, the launch of this on-grid solar plant in Dunhuang demonstrates the Chinese government’s commitment to developing the renewable energy sector in China. As a leader in the global PV industry with more than ten years’ experience and a proven track record in key global solar markets, we believe Yingli Green Energy is well positioned to continue capturing growth both in the China market and worldwide.”

::: >>> Click Here For Your Free Yingli Green Energy Analysis

According to 24/7 Wall St, JP Morgan (JPM) is out with several solar ratings changes this morning, most notably an upgrade of Evergreen Solar (ESLR) two notches to Overweight with a doubling of the price target to $5/share.  Shares are trading up about 6% in premarket trading.  First Solar (FSLR) continues to get hit with cautious analyst comments and downgrades with JP downgrading it this morning from Overweight to Neutral due to a fear of subsidy cuts.  It’s off about 2% in premarket action and will likely hit that 200 day moving at 150 today.

Other changes:

JP also upgraded ASTI to Neutral from Underweight
Energy Conversion Devices (ENER) was initiated with an Overweight
SunPower (SPWRA) upgraded to Neutral

JP Morgan is cautious and defensive on the entire solar sector.

::: >> For a free analysis of any of the solar names mentioned above click here

It’s been said that around 70% of stocks move in the direction of the overall market, so it certainly pays to pay attention to the health of the overall market when considering putting your hard earned bucks to work.  For that reason, I’m going to be posting some videos and updates taking a look at not only the health of the overall market, but the oil market as well.  After all, the price of oil can often be a catalyst for the price of green stocks as well (particularly the wind and solar plays). 

So with that, I present a great video from Adam Hewison of Market Club taking a look at the S&P500 using his trade triangle technology.  Key support levels are discussed as well as a strategy for this current market .  I happen to agree with the analysis.. if key support is  taken out in the coming days we have confirmation of a head and shoulders top and the possibility of a large market drop in the coming weeks.  It’s best to be cautious right now. 

View the video by clicking the image below and don’t forget to add your email at the top of the video for future updates.

Raise a glass for Akeena Solar…the company just helped Silver Mountain vineyards, an organic vineyard in Santa Cruz, California, convert to 100% solar energy using its Andalay solar panel system. The 264 panels are installed on a 6,000 square foot roof to create a 48-KW system, enough to supply all of the winery’s energy needs. The roof is multi-functional-in addition to producing energy, it also provides shade for the winery to reduce the amount of energy required for refrigeration and collects rainwater to reduce water use.

In a company press release, leaders from both Akeena Solar and Silver Mountain vineyards commented on the installation:

“With nearly a decade of successful solar installations within the wine industry, we were able to provide real world expertise to meet the unique needs of Silver Mountain Vineyards,” said Chuck Chagrin, Akeena Solar vice president for commercial sales. “With our sleek and high performing Andalay system, we were able to achieve Silver Mountain’s goal of being entirely solar-powered while preserving the expansive views across the mountains that its visitors enjoy.”

“Silver Mountain was built with a fundamental concern for the environment and has always been a proponent of sustainable and organic practices for viticulture and other food sources,” said Jerold O’Brien, owner of Silver Mountain Vineyards. “Using solar electricity is a natural extension of our sustainable value and the cost savings make sound business sense. Akeena’s experience in providing solar to the wine industry made the company a natural choice to help us convert to 100 percent clean, renewable electricity.”

::: >>> Click Here For Your Free Akeena Solar Analysis