According to Street Insider, Piper Jaffray’s solar analyst, Jesse Pichel, issued a research note saying that “there were no proposals from the industry or specific demands from the Environmental Ministry of Germany” related to the solar subsidies. Solar stocks didn’t recover at all on this research note and continue to drift to the lows of the day after it was reported by Reuters that Germany would cut solar subsidies by 16 – 17% in … Read the rest
Category Archives: Solar Energy
Solar Stocks Hit As Germany To Cut Subsidies 17%, Possibly More In 2011
Solar stocks have been hit hard over the past hour as Reuters reported Germany would begin cutting subsidies by 16 – 17% in April. German cuts have long been expected, but some had called for a 10% reduction later in the year, so this is a bit more than what some expected. Not to mention solar stocks (the China names in particular) have been on a tear, so any negative news was bound to throw … Read the rest
Suntech’s (STP) Solar Panels Powering 2 Pavilions At Shanghai World Expo
Suntech just announced that they have hooked up solar power systems to provide energy for two pavilions at the Shanghai World Expo in China. The building-integrated solar systems on the pavilions provide a total power output of 3.12MW. Togther, the pavilions are expected to produce 2.8 million kilowatt hours of electricity, replacing 1,000 tons of coal consumption and 2,500 tons of carbon emissions annually.
In a press release, Dr. Zhengrong Shi, Chairman and CEO of … Read the rest
Canadian Solar (CSIQ) Announces 18MW Rooftop Solar Distribution Deal With West Holding Of Japan
Canadian Solar (CSIQ) has announced a partnership and distribution deal with West Holding of Japan to push further into a growing Japanese solar market. As part of the joint venture, CSIQ will transfer 14% of the shares of the Canadian Solar Japan subsidiary to West Holding. West Holding will be responsible for marketing and distribution of approximately 18MW in residential rooftop solar systems this year.
CSIQ CEO Shawn Qu said, “West Holding is a leading … Read the rest
First Solar (FSLR) Acquires Edison Mission Solar Project Pipeline
First Solar just announced that they have acquired some of Edison Mission Group’s planned solar power projects. According to Reuters, the projects, which are located in the Southwest and California, range from 20MW to 150MW, and are located on private land.The companies are keeping the financial details of the acquisition private, and utilities have not yet signed agreements to purchase the power that will be produced by the projects. This acquisition has been in the … Read the rest
Yingli Green (YGE) Energy Nets $4.5 Million Tax Credit
Yingli Green Energy is slated to receive a tax credit of $4.5 million for building a manufacturing facility in the US. The company plans to build a 100MW facility in the US, though it has not yet settled on a site. A location is expected to be announced in the next few weeks and the facility is expected to be up and running by the end of the year.
In a press release, Mr. … Read the rest
Suntech (STP) Panels Sell Out
Suntech just announced that it has sold out of its solar panels through the second quarter of 2010. Reuters quotes Steve Chadima, vice president of external affairs at Suntech, explaining the situation:
“We were basically in a sold-out situation in Q4 and we’re in a sold-out situation at least through Q2. We’re basically selling anything we can produce and I know we’re not alone.”
Demand for solar panels is back up from a low point … Read the rest
Sunpower (SPWRA) Installs 500KW Solar Power System For Harvard
Sunpower just announced that it has finished installing a 500KW solar power system for Harvard University. The system, which has been installed on top of the Arsenal on the Charles complex, was built with SunPower T5 Solar Roof Tile and should generate enough energy to power 83 homes, offsetting 367 metric tons of CO2 annually.
In a press release, Tom Leyden, managing director at SunPower, commented on the news:
“It is clear to us … Read the rest
Collins Stewart Raises Targets & Estimates On CSIQ, TSL
According to StreetInsider.com, Collins Stewart is out this morning joining the solar bull parade and raising the targets and estimates for both Canadian Solar (CSIQ) and Trina Solar (TSL).
They reiterate the Buy rating on Canadian Solar and padded the price target to $40 from $26. The firm cites “slightly higher volumes and a higher average selling price in Q210.” Raised Q2 ASP assumption from $1.70/w to $1.80/w and its CY10 shipment forecast from … Read the rest
Solar Upgrades: SPWRA, STP, AMAT
A few solar upgrades to report this morning…
Suntech Power (STP) was raised to Neutral from Underperform by Macquarie. Shares are up about 3% on the upgrade. Click Here For Your FREE Suntech Analysis
Sunpower (SPWRA) was upgraded by Europe’s SocGen from Hold to Buy and raised the price target from $29 to $31.moving this morning as we have an analyst upgrade over at Europe’s SocGen. The firm raised its investment rating on SunPower shares … Read the rest