Solar stocks have truly arrived. Another one of the big boys has initiated coverage. Wells Fargo has initiated coverage on a few China stocks – Trina Solar (TSL), ReneSola (SOL) and Suntech Power (STP). Hat tip to Street Insider for the analyst commentary.
ReneSola (SOL) gets an Outperform rating and a valuation range of $9.50 – $12. “Wafer pricing is trending higher, margins are improving, and the new OEM business can provide protection if the … Read the rest
Evergreen Solar (ESLR) reported uninspiring results again this quarter as profitability remains elusive. The company upped guidance a few weeks ago, which gave the stock some life, but it’s back towards all time lows. There are some highlights in the quarter, but as I’ve said in the past, unless this company can cut costs significantly they aren’t going anywhere. The strategy to “go somewhere” is to go elsewhere for manufacturing.. China. There is some good … Read the rest
Converted Organics (COIN) popped a bit this morning with volume when it announced that Whole Foods (WFMI) has been carrying its organic fertilizer product in quite a few more stores this year over last year. COIN never misses a chance to get a positive press release out and they didn’t miss this opportunity either. Whole Foods carried the product in just 18 stores last year, but this year is carrying it in 84 stores.
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Ultralife (ULBI) has been awarded a total of $3 million from two New York state departments to advance the development of its lithium battery storage systems in wind turbine applications. Specifically, the funds will be used to demonstrate the technology in powering a wind turbine project planned for installation at the State University of New York At Canton next year. Ultimately, it will be one of the first battery integrated wind turbine projects in the … Read the rest
Altair Nanotechnologies has just announced that it has received a new $850,000 follow-on order for its advanced lithium-ion battery modules from Proterra. The batteries will be used in Proterra’s electric and hybrid transit buses, especially the electric 35-foot Proterra FCBE 35 transit buses.
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In a press release, Terry Copeland, President and Chief Executive Officer of Altairnano, commented on the order:
“This latest purchase order will allow Proterra … Read the rest
In a press release this morning, Sunpower (SPWRA) touted its new high efficiency E19 solar panels with an efficiency of 19.5%. Behind the glitz, glamour and press releases of being a world leader in high efficiency solar cells, there is an ugly side. That ugly side comes in the shape of competition .. from Chinese manufacturers willing to sell less efficient panels at a much lower price. Isn’t global competition wonderful? Not for many US … Read the rest
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
SunEdison, a division of MEMC Electronic Materials,has just announced that it has been selected to build 12 new solar power plants in Italy. The plants are to be located in the Lecce, Apulia. Each will have a capacity of 1MW. To finance the projects, SunEdison also announced a financing deal with Norddeutsche Landesbank for 47 million euros.
In a press release, Carlos Domenech, president of SunEdison, commented on the news:
“The announcement of these projects, … Read the rest
SunPower just announced that it has released a new product line. The SunPower E19 Series solar panels consists of modules in a 96-cell or 72-cell configuration that boast efficiency of 19 percent or more. This is accomplished with larger all-back contact solar cells that make more efficient use of space, as well as an anti-reflective coating. In a press release, Tom Werner, SunPower CEO, commented on the new product line:
“We are pleased to … Read the rest
NV Energy just announced that it has extended its partnership with Comverge. Under the agreement, Comverge will keep managing NV Energy’s 143 MW smart grid ready demand response program, which is currently the biggest in the country. Comverge will also add an additional 12 MW of capacity to the program. Comverge will also provide NV Energy with SuperStat(R) programmable communicating thermostats and will continue to explore additional demand response technologies to ensure that NV Energy”s … Read the rest