Despite the solar stocks being pummeled into oblivion for the entire year and accelerating those losses in the past few weeks, analysts continue with the negative outlooks and sell ratings. Let’s keep in mind though that analysts are almost always late to the party and that may be the case in this situation as well. With solar stocks being the biggest beneficiary of the extension of tax credits in the recent bailout bill and the … Read the rest
Category Archives: Solar Energy
SunPower (SPWRA, SPWRB) and GE (GE) Work Together To Provide Solar Power To HP
SunPower and GE worked together on a project to provide a solar power system for HP’s printing technology research facility in San Diego, California. SunPower installed one of its SunPower(R) T10 Solar Roof Tile commercial roof systems at the HP building, which will reduce HP’s emission by more than 60 million pounds over the next 30 years. Instead of purchasing the system itself, HP is buying the energy from GE Energy Financial Services, which sells … Read the rest
Suntech (STP) Hit With Sell Rating
It was a crazy week last week for me so I need to catch up a bit in the world of green stocks! On Thursday of last week, Suntech Power (STP) was hit with a sell rating and price target of $16 by Hapoalim Securities (who?) saying they are impressed by the cost structure of the company but believes their 35 – 45%% exposure to Spain and nearly 85% exposure to Europe will hurt them … Read the rest
Hoku Scientific (HOKU) Gets Loan To Finance Polysilicon Plant
Hoku Scientific has been approved for a $5 million loan with First Hawaiian Bank. The loan will help the company finance expenses incurred from the construction of its new polysilicon manufacturing plant in Idaho. The loan, which carries a 5% interest rate, must be paid back by January 1, 2009. … Read the rest
Applied Materials (AMAT) Says that Solar Products May Account For 25% Of Sales In 2009
According to Applied Materials’ CEO Mike Splinter, solar equipment could make up 25% of the company’s business in 2009, up from 10% this year. Even with the current economic crisis, the US is ready to expand into solar power, and Applied Materials stands to benefit. Splinter stated that
… Read the rest"The United States is poised for strong solar adoption," he said, noting the U.S. Congress’ approval last week of an 8-year extension of tax credits for
Canadian Solar (CSIQ) Signs Contract With Systaic of Germany
Canadian Solar (CSIQ) announced a small deal with a leading German solar installer IIiotec a few days ago and this morning its announcing another deal with German systems integrator Systaic, a customer since the beginning of this year. CSIQ will supply Systaic with 60MW in solar modules to be delivered next year
CEO Shawn Qu: “The next-year order booking ratio we achieved in September is the highest in the Company’s history. This demonstrates the … Read the rest
Yingli Green Energy (YGE) Will Stop Expanding After 600 MW Benchmark Reached
Yingli Green Energy announced that after it reaches 600 MW of capacity in 2009, it has no further plans to expand. The company recently upped its capacity to 400 MW, and will add an additional 200 MW capacity by the 3rd quarter of next year.
The AP reports that the company’s "cash and cash equivalent totaled about $130 million on Sept. 30, and that its cash flow is sufficient for the rest of 2008 and … Read the rest
Quantum Fuel Systems Technologies Worldwide’s (QTWW) Partner Asola Will Enter Joint Partnership With Moroccan Company To Provide Solar Power In Morocco
According to MSN, Quantum Fuel Systems Technologies Worldwide, Inc. announced that Asola, its German partner, has entered into a joint partnership with Moroccan company Majdaline Holding. The two companies will join forces to build a solar power manufacturing plant. The plant will produce enough solar power modules to generate 30 MW of power each year, and has the potential to bring in $100 million annually.
From the article on MSN MoneyCentral, here are some … Read the rest
Norsk Hydro ASA Ups Stake in Ascent Solar (ASTI)
Norwegian aluminum supplier Norsk Hydro is buying additional shares of stock in Ascent Solar, bringing its stake in Ascent to 35%. The deal is expected to close today, and will bring the total amount that Norsk Hydro has invested in Ascent to $63 million.
According to the Denver Business Journal,
… Read the restNorsk Hydro, working through subsidiary Norsk Hydro Produksjon AS, has exercised its option to buy additional shares of Ascent Solar common stock, an option
LDK Solar (LDK) Says 3rd Quarter Is Looking Better Than Expected
LDK Solar raised its 3rd quarter outlook and shipping estimate today, as the company is doing better than expected in terms of revenue and shipments. LDK had expected sales revenue in the range of $486 million to $496 million, and shipments in the range of 210 to 220 MW. Instead, the company now expects to bring in $530 million to $540 million in sales, with shipments totaling 230 to 240 MW. Final results for the … Read the rest