According to Reuters, demand for solar panels has risen so sharply that industry leader First Solar is unable to keep up. Although First Solar’s business slowed down in the 3rd quarter, it is expected to pick up in the fourth, despite German solar subsidy cuts that are expected to hit July 1.
Reuters quotes First Solar’s Stephan Hansen saying “In 2010 we will not be able to produce enough modules to meet demand.”
Suntech … Read the rest
Suntech Power (STP) reported earnings this morning that were just shy of analyst estimates on the EPS side due to a substantial currency exchange hit on a weakening Euro, but revenues beat analyst estimates and approached the record quarter in Q2 2008. The company posted an EPS of .11/share vs the analyst estimate of .14/share on revenues of $588 million vs the analyst estimate of $560 million. That’s a big jump over the year … Read the rest
Solarfun just announced the introduction of its new “SolarIris” line of building-integrated photovoltaic cells. SolarIris PV modules come with artistic patterns and designs and can even be used for windows and skylights, making them a more attractive choice for architects and homeowners concerned with aesthetics. They have also successfully passed more than 2,000 hours of high-temperature and high-humidity testing.
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In a press release, Peter Xie, President … Read the rest
Several analyst rating changes today. Analyst notes courtesy of Street Insider.
Upgrades
Ardour Capital upgraded Darling (DAR) from Hold to Accumulate and raised price target to $9.50. Shares up nearly 4% today but still trading below the 200 day moving average. Get a FREE Darling Intl Technical Analysis
Ardour Capital also upgraded Akeena Solar (AKNS) from Hold to Buy and has a $1.25 price target (about 50% higher than the current price) AKNS is … Read the rest
SunEdison just announced that it has begun producing power from its new 1.1 megawatt rooftop solar system at the Staples fulfillment center in La Mirada, California. This is the 32nd solar power system that Staples has hosted for SunEdison. Staples purchases the power produced by the systems.
In a press release, Jaime A. Smith, vice president of North American sales for SunEdison, commented on the news:
“Our activation with Staples is just the latest … Read the rest
Over a month ago, Macquarie slashed its rating on Canadian Solar (CSIQ) and said it had lost credibility in management due to another EPS revision lower due to currency exchange losses. Today, that credibility takes another hit along with the price of its stock. The company announced after the bell today that it has been issued a subpoena by the SEC related to sales transactions last year. As a result, they’re delaying their earnings results … Read the rest
The Victoria-Suntech Advanced Solar Facility (VSAF), a joint project from Suntech and Melbourne, Australia’s Swinburne University of Technology, launched yesterday in Melbourne.
The VSAF will enable Suntech and Swinburne to collaborate and find a way to commercialize Swinburne’s new NANOPLAS technology.
According to Professor Min Gu, who is the Director of the Swinburne Centre for Micro-Photonics and will head the VSAF in conjunction with Suntech Chairman and CEO Dr. Zhengrong Shi, the NANOPLAS technology makes … Read the rest
Suntech just announced that its solar panels have been certified to meet the requirements of the UK Microgeneration Certification Scheme. MCS Certification means that Suntech’s panels meet or exceed all applicable safety and performance standards and can be sold in the UK.
In a press release, Jerry Stokes, Suntech’s Vice President of Strategy and Business Development in Europe, commented on the news:
“We see the UK as a strategically important market and had no … Read the rest
SunPower just announced that they are forming a joint venture with thin-film crystal LCD manufacturer AU Optronics Corp. Per the agreement, the two companies will jointly own and operate the 1.4 gigawatt third solar cell fabrication plant (called Fab 3) that SunPower is in the process of building in Malaysia. By bringing AUO into the joint venture, SunPower plans to reduce costs for the project and have it completed more quickly.
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Hoku Scientific (HOKU) reported earnings results after the bell and traders aren’t impressed. While the company matched analyst estimates with a .03/share loss, they missed badly on revenues reporting just $776K vs the analyst estimate of $1.4 million. Granted, it’s a big improvement over the 112K they reported in the year ago quarter, but when you miss that badly, the stock will get hit. It’s off about 10% in after hours trading.
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