Suntech just announced that they will start shipping a larger solar power system suitable for utility-sized projects later on in the year. The system, called Reliathon, will be available starting next year, and can be used for projects greater than 10 MW in scope.
By reducing the number of bolts and the amount of wiring required for the Reliathon system, Suntech has managed to reduce its installation costs by 10%. Two years from now, the … Read the rest
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest
Suntech just announced that it has signed a memorandum of understanding (MOU) to work with Pakistan’s Alternative Energy Development Board to bring solar energy to Pakistan. Per the MOU, Suntech will work with both the public sector and private sector to make solar energy available across Pakistan. Projects include working with AEDB’s Rural Electrification Program to provide solar electricity to rural areas, developing Solar Power Pumping Systems with the cooperation of the AEDB and the … Read the rest
Suntech just announced that is has connected the first 10 MW, ground mount solar power project to the Chinese power grid. The project, completed through collaboration with Suntech’s partner China Energy Conservation Investment Corporation (CECIC). This milestone represents the completion of the first phase of a larger, 50MW project that is expected to be finished in 2011.
In a press release, Dr. Zhengrong Shi, Suntech’s Chairman and CEO, commented on the news:
”Suntech is … Read the rest
In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
Suntech just announced that it has achieved another world record for multi-crystalline module conversion efficiency. In August, Suntech broke Sandia National Lab’s previous record of 15.5 percent. Now, it has broken its own record by achieving conversion efficiencies of 16.53%, as verified by the Fraunhofer Institute for Solar Energy Systems ISE.
The record was achieved with Suntech’s Pluto technology. In a press release, Dr. Stuart Wenham, Suntech’s Chief Technology Officer, and Dr. Martin Green, Research … Read the rest
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
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
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
Suntech (STP) is out with earnings this morning and it’s not bad, not great. You kind of expected this company to emerge from the pack a bit and post a much better quarter, but it didn’t happen. The company reported another plunge in earnings and revenues when compared to the year ago quarter, but saw a bit of sequential growth so inline with what other solar companies are reporting.
STP reported .06/share which is better … Read the rest