Westinghouse Solar (WEST) Soars On News It Will Unveil First Fully Integrated AC Solar Panel In Europe

Westinghouse Solar (WEST), formerly Akeena Solar (AKNS), is a company I discontinued coverage on for some time as the red ink continued (and continues) to flow, but yesterday the stock soared nearly 150% to nearly $2.50/share on news it will unveil the world’s first fully integrated AC solar panel at the Intersolar 2011 trade show in Germany in about a week.  The new 235 watt panels feature an integrated frame as well as other enhancements that increase reliability and ease of installation for solar rooftop installations.  They are expected to begin shipping this summer.

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"We are excited to be unveiling the industry’s first fully integrated AC solar panel into Europe, the world’s largest solar market," said Barry Cinnamon, CEO of Westinghouse Solar. "Panel prices have declined to the point at which direct and indirect labor expenses are now the largest single component of system costs. With integrated racking, wiring and grounding, Westinghouse Solar Power Systems eliminate 80% of the field assembly components and save 50% of the labor compared to ordinary solar power systems, thereby providing greater margin opportunity to rooftop system installers.”

Despite the big surge in shares of WEST, the stock still remains technically challenged and traded back below resistance of the 200 day moving average today.  However, it appears that buck level where it found support could very well be a long term bottom in the stock.  More of a retracement in the stock could provide an outstanding entry point for a trade. 

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