Westinghouse Solar (WEST) Named Supplier For Lennar Homes Solar Initiative

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10:27:39 am on July 25, 2011

Westinghouse Solar (WEST), formerly Akeena Solar,  is soaring around 40% this morning on news that Lennar (LEN), one of the nation’s largest homebuilders, has named the company as a supplier of solar systems for new home buyers.  The multi-year agreement will have WEST supplying its solar AC systems for new homes in select communities in Texas as part of Lennar’s “Everything Included” program.  No word on the financials of the deal.

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"Rooftop solar power — when combined with other energy efficient features — is the best way to maximize home energy efficiency," said Barry Cinnamon, CEO of Westinghouse Solar. "Lennar is a leader in building new homes with the energy efficient features that buyers want most. By providing a Westinghouse Solar Power System as a standard feature of its new homes, Lennar makes it easy for homebuyers to save on energy for decades to come."

Technically, it appears shares of WEST are bottoming out with clear signals of strong support in the 1 – 1.25 area.  I’m always a big believer in trading a stock on a pull back after a big surge and in this case it’s no different.  I’d be looking for a pull back off this surge to the $1.25 – $1.50 level as an opportunity for a trade.

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