There’s a good article in the NY Times today discussing the push of China into the US solar market, particularly Suntech (STP) which has admitted to pricing panels at below cost in order to gain US market share. Just a few days ago the company claimed to now have 25% of the California market.
As we reported here back in May, Suntech plans to expand its presence in the US further in … Read the rest
A few analyst rating changes are out this morning..
Analyst comment below courtesy of StreetInsider.com.
Deutsche Bank is out this morning maintaining its hold rating on Canadian Solar (CSIQ) but is lowering the price target from $17 to $13. The firm says, “Recent inputs from various solar PV companies and less than hoped for improvement in the demand picture for larger systems (due to financing availability) cause us to reassess our outlook for solar … Read the rest
In comments made following earnings late last week, Suntech CEO Zhengrong Shi indicated that the Chinese government may soon roll out its largest solar subsidy program yet, which would send the China solars on another flight higher. He predicts that a feed in tariff program for utility scale solar plants would provide .16 – .22 kWh and be in place by the end of this year, requiring utilities to buy solar power at a … Read the rest
Tera-Barrier Films Pte. Ltd. just announced that Applied Materials has made a strategic investment in their company via its investment arm, Applied Ventures LLC. Applied’s investment money will be used by Tera-Barrier to develop moisture-resistant film for organic solar cells and flexible displays. The film will protect solar cells and electronics from moisture, decreasing cost and increasing life span.
In a press release, J. Christopher Moran, vice president and general manager of Applied Ventures, … Read the rest
The 150MW demand response contract between EnerNOC (ENOC) and So Co Edison which was originally announced in June 08, has been approved by the California Public Utilities Commission and will be effective until the end of 2012.
“The CPUC’s decision reflects the important role that demand response can play in reducing peak demand in SCE’s service territory,” said Tim Healy, EnerNOC’s chairman and CEO. “Adding more demand response resources to the state of California further … Read the rest
Capstone Turbine (CPST) looks very strong today and making a run at the July high around 1.20 on news the company received an order in excess of $2 million for 3 of its C800 micro turbines for a Brazilian wastewater treatment plant. It marks the company’s first sale of the C800 in South America.
The low emission turbines will not only produce 2.4MW of electricity to power the equipment and the buildings of the two … Read the rest
Covanta just announced that it has finished the first stage of its acquisition of Veolia’s North American energy-from-waste business. The 7 facilities involved in this stage include one in California, 2 in New York, 3 in Pennsylvania, and one in Canada. Each of the facilities acquired comes with a long-term contract for the energy produced with the associated municipal client.
Covanta expects to complete the acquisition this year by acquiring Veola’s operating contract for a … Read the rest
Kaufman Bros. is downgrading CREE from Buy to Hold based on valuation.
Hat tip to StreetInsider.com for the following analyst comment:
“Given the optimism in the market, we would not be surprised to see Cree shares climb higher, but the stock has reached our target and we would recommend investors remain on the sidelines until the shares present a better buying opportunity. CREE shares are now trading at 4x tangible book and 48x our calendar … Read the rest
Rentech just announced that its synthetic diesel fuel, RenDiesel, will be used in a special demonstration military vehicle at Selfridge Air Show at Selfridge Air National Guard Base on August 22 and 23rd. According to this press release, Rentech’s fuel will be used in a LASSO all-terrain military vehicle to demonstrate the viability of using synthetic fuel produced from US coal and biomass for military use. … Read the rest
I mentioned the upgrades in the post before. Now for the downgrades. Jefferies is out this morning cutting the entire sector and downgrading several solar companies due to the same concerns we’ve heard for many months… oversupply and lack of demand.
First Solar (FSLR) cut to Hold from Buy
SunPower (SPWRA) cut to Hold from Buy
Suntech Power (STP) cut to Underperform from Hold
Ascent Solar (ASTI) cut to Underperform from Hold
China Sunergy (CSUN) … Read the rest