BNET has an interesting interview with Canadian Solar CEO Shawn Qu I recommend checking out. Here are a few highlights of comments made by Qu:
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– Believes solar will reach grid parity (using the levelized cost of energy) in some countries within the next 3-5 years. He sees Japan reaching it first then Germany and California. That may be the tipping point for another explosion … Read the rest
Shares of Power-One (PWER) got a bump off the bottom today when the company announced that it has begun shipping its 250kW and 500kw utility grade inverter products from its new manufacturing facility in China. It will have a capacity of 1GW by the end of this year. The company said that the facility will also help meet the demands of the Indian market in addition to the Asian market.
Canadian Solar (CSIQ) missed EPS estimates this morning sending the stock reeling nearly 20% and putting pressure on many solar stocks across the board. The company reported revenues of $453 million which beat analyst estimates for $417 million, but missed on the EPS side posting .58/share vs the expectation for .65/share. It still represented big quarter over quarter growth and healthy sequential growth, but clearly traders were looking for more.
SunPower (SPWRA) announced this morning that is has expanded its relationship with Japanese behemoth Toshiba to support Toshiba’s residential s0lar program. The two companies have worked together in the past under an original 32MW supply deal and today’s announcement adds another 48MW. The panels will be supplied over the course of the next year.
==> Click Here For Your FREE Daily Sunpower Analysis
"Japan is the leader in Asia in the residential solar market, which … Read the rest
Two solar industry heavyweights announced a 50/50 joint venture for solar cell production in China today. JA Solar (JASO) and MEMC Electronic Materials (WFR) will build and operate a solar cell production facility in China with phase 1 calling for 250MW of capacity which may be expanded up to 1GW.
> Click Here For Your FREE Daily MEMC Electronics Analysis
"We are delighted to embark on this exciting initiative with MEMC, and to continue our … Read the rest
Daqo New Energy (DQ) beat analyst estimates this morning, posting huge quarter over quarter growth in the process. Shares of DQ initially surged at the open, up around 5%, but have gone the way of Jinko Solar (JKS) and given it all back and then some. The company reported an EPS of .95/share on revenues of $81.9 million vs the analyst estimate for .71/share on revenue of $75 million. The result was better than … Read the rest
Auriga sent out a note this morning regarding the solar sector as a whole and believes the incentives uncertainty is now priced in for the most part and that solar stocks will see some recovery from here. I tend to agree with that evaluation and still think this pull back on fears of an Italy installations cap and a few less than stellar earnings reports will lead to some buying opportunities.
Auriga also notes that … Read the rest
JA Solar (JASO) has signed another supply agreement with Solar-Fabrik AG of Germany. JASO will supply more than 110MW of solar products throughout this year.
===> Click Here For Your FREE JA Solar Analysis
"Since 2008, JA Solar and Solar-Fabrik AG have enjoyed a productive and rewarding partnership, and we are very pleased to expand on this alliance in 2011," commented Dr. Peng Fang, CEO of JA Solar. "The success of this relationship demonstrates JA … Read the rest
Shares of ReneSola (SOL) were hammered today, down nearly 17%, after the company reported strong earnings results, but weaker guidance than what the Street was expecting. The company reported another quarter of big quarter over quarter growth with an EPS of .69 on revenues of $386 million. That matched analyst estimates on the EPS side and beat estimates on the revenue side (analysts expected $366 million). However, traders sold the stock due to weak … Read the rest
It was announced today that JA Solar (JASO) will invest a bit more than $2 billion in a massive capacity expansion in the city of Hefei. The company is committed to investing in production capacity of 3GW which will ultimately exceed its current entire capacity. CEO Fang Peng stated it’s a project that will last about three years. Considering $2 billion is about a years worth of revenue for JASO, is this too big a … Read the rest