Solar Photovoltaic

Doug Young I rarely write about the same company 3 times in a single week, but in this case the developments are coming so quickly at plunging solar panel pioneer Suntech Power (NYSE: STP) that an update to this fast developing story is necessary. Company watchers will know that Friday was the official deadline for Suntech to repay some $540 million in bonds that have just come due. The company has no cash to make that repayment, and earlier this week received a 2 month extension on that deadline from a majority of bondholders. (previous post) Meantime, Chinese...

L. Myron Clark Solar energy stocks took a huge jump today in U.S. trading.  While the sheen faded slightly as afternoon skies turned overcast in the eastern U.S., as of the NYSE closing bell about half the sector was up 20% or better.  Absent major industry news or earnings blowouts, short covering is the most plausible explanation for the sudden sharp rise.  Among the biggest winners were: Hanwha SolarOne Co. Ltd. ADS (HSOL)  +36.80% JA Solar Holdings Co. Ltd. ADS (JASO)  +34.72% JinkoSolar Holding Co. Ltd. ADS (JKS)  +31.86% ReneSola...

Garvin Jabusch The fossil fuel apologists in the U.S. are of course relentless in their criticism of the solar energy industry. Now with the JinkoSolar (JKS) fluoride spill, though, their hypocrisy is on full display. Earlier this month, they started talking about how Solyndra's failure means the whole solar concept is flawed (it's not), and how solar doesn't work (it does) and how it's not competitive (it is). Now, JinkoSolar, having spilled fluoride into a river in Haining province, China, is the new whipping boy. The issue though...

by Debra Fiakas CFA Last week the Aussies invaded New York City, bivouacking at a popular hotel and parading a string of Australia-based companies in front of investors.  Of course, there were the usual mining and minerals companies for which resource-rich Australia is so famous.  However, the Australia Stock Exchange  -  one of the event sponsors  -   has diversified with listings in communications, biotechnology and alternative energy. One of the presenters, Silex Systems, Inc. (SLX:  ASX and SILXY:  OTCQX) is a talented little company with technologies for solar and nuclear power generation.  Silex has developed a laser...

A Conversation with Applied Material’s Solar Head Charlie Gay by Neal Dikeman I had a chance to chat today with Dr. Charlie Gay, the President of Applied Materials' (AMAT) solar division.  You may recall, we broke the story in the blogosphere 5 years ago about Applied’s entry into solar, which was anchored with a highly touted and very aggressive strategy for turnkey large format amorphous silicon and tandem cell plants called SunFab. Charlie reminded me that when they began 5 years ago, they did so along two major thrusts:  The acquisition of Applied Films in...

By Jeff Siegel Solar Competes With Natural Gas From 2005 to 2008, I made an absolute fortune in solar. And it was insanely easy, too. Hell, back then you could pretty much just pick any random company with the word “solar” attached to it, and watch your money double, triple, even quadruple. Yes, those were three great years. And I live very comfortably today because of those three years. But the solar market isn't what it used to be. Last year, solar stocks got slammed. And while most expect to see a recovery in the space this year,...

Tom Konrad, Ph.D. This continues a series of entries on opportunities in solar stocks, based on a panel at Solar 2009.  The first article introduced the panelists, and took a look at the solar sector as a whole.  The others focus on individual companies. Pradeep Haldar Investors remain bullish on thin film technologies such as CdTe (First Solar's technology.) CdTe currently has the lowest cost, but it may not have long term sustainability. Peter Lynch on First Solar (FSLR) If First Solar ever stumbles, gravity will take over. They could fall 50% in a day. They...

Doug Young Bottom line: Yingli appears to be in financial distress but will avoid defaulting on debt obligations coming due next week, while China’s broader solar panel sector is likely to face new anti-dumping tariffs in Europe later this year. The solar panel sector has become quite a turbulent place these days, riding high one day on reports of major new plant construction, only to stumble the next on signs of conflict and financial distress. This kind of conflicting news reflects the fact that the industry is still in the midst of a major overhaul that could...

Doug Young  The war of words against Chinese solar panel makers is heating up from both sides of the Atlantic, with growing signs that Europe may reconsider anti-dumping duties as the US moves closer to imposing its own new duties on the beleaguered manufacturers. Meantime, 2 of the biggest Chinese victims of the sector’s recent turmoil have risen from the ashes, with LDK (OTC:LDKSY) and Suntech (OTC:STPFQ) both announcing new moves more than a year after each became insolvent. Among those 2 moves, LDK’s looks the most worrisome, potentially bringing major new volumes of polysilicon, the main ingredient in...

by Clean Energy Intel Shares in JinkoSolar Holdings (JKS) fell a full 28% yesterday after the company was forced to idle its manufacturing facility in Haining following three days of protests over allegations that the facility has been polluting the local river. The difficulties relate to one of the company's wholly-owned subsidiaries, Zhejiang Jinko, and the company has now admitted that the local environmental protection authority is investigating the allegations that the company has been discharging hazardous waste into a river: "There have been reports that Zhejiang Jinko Co., Ltd. ("Zhejiang Jinko"), a wholly owned subsidiary...

Charles MorandLike Tom, I attended part of the Solar 2009 conference last week. One of the most interesting presentations I heard was by Andy Black, CEO of OnGrid Solar, on the potential impact on residential solar installations of removing the $2,000 ITC limit (link to the actual paper). Prior to changes in October 2008, ITC tax credits for rooftop solar PV installations were capped at $2,000. In the author's own words: This paper presents revised and expanded financial analyses of residential cases . It will look at Internal Rate of Return (IRR) only (for simplicity of...

Doug Young ReneSola (NYSE:SOL) boosts revenue and margin forecasts More good news is coming from the battered solar panel sector, with mid-sized player ReneSola (NYSE: SOL) sharply boosting its revenue and margin forecasts for the current quarter in the latest sign of a sector rebound. ReneSola isn’t forecasting a return to profitability just yet, but the latest signs do seem to indicate the sector’s strongest players could return to the black by the end of this year if current trends continue. Some could also interpret this upbeat news...

Doug Young Bottom line: New financing deals for Canadian Solar and Trina reflect the growing role of solar panel makers as power plant builders, and could provide some stability to the sector by providing a more reliable stream of new projects. Two big new financing deals are shining a spotlight on a major shift taking place in the solar panel sector, with manufacturers increasingly moving into the field of solar farm development. The shift is seeing solar panel makers become their own best customers, buying up panels for use in solar farms that they build themselves. The...

Esplanade Capital Issues Open Letter to the Board of New Energy Exchange Limited Urges the Company to Reregister with the SEC to Maximize Value for Shareholders Esplanade Capital LLC, a significant shareholder of New Energy Exchange Limited (OTC PINK: EBODF), announced today that it has issued an open letter to the Board urging the Company to reregister with the SEC in order to maximize value for shareholders. The full text of the letter follows: April 25, 2017 New Energy Exchange Limited (f.k.a. Renewable Energy Trade Board Corp.) Board of Directors Shun Tak Centre West Tower...

by Debra Fiakas CFA   Solar module producer First Solar, Inc. (FSLR:  Nasdaq) received a boost last week from a new rating upgrade from Hold to Buy.  There are at least fifteen sets of analytical eyes scrutinizing First Solar.  The prevailing view on First Solar had been ‘hold’ or ‘neutral’ with a median price target of $70.00, representing a 13% return potential from the current price level. Solar power generation has on a roll in recent years as lower solar cell prices have helped find demand at higher volumes.  The U.S. Solar Energy Industries Association...

Tom Konrad Ph.D., CFA I first wrote about Power REIT (NYSE MKT:PW) in 2012, when the tiny real estate investment trust unveiled its plans to become what would have been the first Yieldco by investing in the land underlying solar and wind farms... before the term 'Yieldco' had even been invented.  In the years since, the company made some progress buying land under solar farms.  According to the most recent shareholder presentation, they now own land under seven solar farms totaling 601 acres and 108 MW, in addition to their legacy railroad asset.  These assets produce...