Canadian Solar’s Chinese Loan
Doug Young China’s struggling solar panel makers must are slowly transforming into de facto state-owned enterprises as they take increasing loans from Beijing, with Canadian Solar (Nasdaq: CSIQ) becoming the latest to take a handout from the policy lender China Development Bank (CDB). If Beijing is trying to convince Europe and the US that it’s not unfairly supporting its solar sector, then this certainly isn’t the way to do it. But that said, I doubt that Canadian Solar or many of its peers could get financing to maintain their operations from any true private sector banks right now,...
Chinese Solar Turmoil Brings Crowdfunding and Internet Interlopers
Doug Young Bottom line: Yingli’s use of crowd-funding to finance a small project and the bargain sale price of a small polysilicon maker reflect continuing struggles at second-tier solar companies and the need for more consolidation. Two solar energy stories are showing how overcapacity continues to haunt the sector 2 years after it began to emerge from a major downturn. The first involves a desperate-looking fund-raising plan from the struggling Yingli (NYSE: YGE), which is trying to use crowd funding to pay for a new solar plant. The other news involves another slightly bizarre investment in the space, with...
Solar Christmas: Coal for LDK, JV for Trina
Doug Young Photo by Tom Konrad I thought I’d get into the Christmas spirit in this first work day after Thanksgiving in the US, so let’s take a look at what solar panel makers LDK (NYSE: LDK) and Trina (NYSE: TSL) are getting in their holiday stockings with the latest company news reports. It seems the struggling LDK won’t be getting much, with word that a Chinese court has added further delays to a case where it is owed $40 million in a business dispute...
Microinverters Make a Move on Multi-MW Solar Power Installations
Tildy Bayar A microinverter from iEnergy Photovoltaic (PV) microinverters, traditionally used in smaller rooftop solar installations, are being used in a 2.3-MW commercial rooftop installation in Ontario, Canada, supplier Enphase Energy (ENPH) has announced. The installation is the largest commercial rooftop project under the province’s feed-in tariff (FiT). Analysis firm IHS Research has called the announcement a milestone in the microinverter segment’s progress towards establishing itself outside its biggest market, the U.S., and outside the residential solar segment. According to IHS’s analysis, PV microinverter shipments are forecast to exceed...
Vulnerable Solar Markets and What Makes Them Tick
by Paula Mints
All industries and the companies that populate them are vulnerable to macro and micro economic shocks, substitutes, changing tastes and other economic, political and social events.
The global solar industry is vulnerable for all-of-the-above reasons and as it is incentive, subsidy and mandate driven while trying to unseat the conventional energy status quo, it is particularly vulnerable. The solar landscape remains low margin and requires government intervention of some type to thrive.
It is correct to say that the global solar remains primarily policy driven, but this statement does not go descriptively far enough. Many deny that solar deployment still requires incentives, mandates and/or subsidies...
China Trys to Cork EU Solar Tariffs With Wine Probe
Doug Young China is quickly learning how to play the game of tit-for-tat trade wars, with news that Beijing has launched a new anti-dumping probe against wines imported from the European Union. Anyone who has followed recent China-EU trade relations will know, of course, that announcement of this new probe by the Commerce Ministry comes the same day that the EU formally announced anti-dumping tariffs against imported Chinese solar panels. While I certainly don’t condone this kind of trade war rhetoric, I have to say that China’s decision to target Europe’s wine industry looks like a very...
China Solar Update: LDK, Canadian Solar, First Solar & Sunpower
Doug Young There're quite a few news bits coming from the solar sector today, with more downbeat news from struggling LDK Solar (NYSE: LDK) even as 2 western panel makers make important new inroads to the China market. Meantime, Canadian Solar (Nasdaq: CSIQ) is also getting some good news in the form of new financing from a major western commercial lender for a new solar power project in Canada. Let's start with the LDK news, as it's easily the most downbeat in this flurry of new reports. For anyone who doesn't follow the sector too closely, LDK is...
Tesla’s Buffalo Solar Tiles: As Hot As They Seem?
by Paula Mints
In August, Tesla (TSLA) announced that production of its roof tiles at its not-yet-a giga-factory in Buffalo New York would be delayed until late in 2017. Wait ... it is late in 2017. Tesla indicated that production on the tiles was continuing at its 25-MWp pilot scale facility in Fremont, California. The Fremont facility was the former home of the dearly departed Silevo. On August 31 Tesla announced that it was now manufacturing solar cells at its facility in Buffalo and indicated it would have 2-GWp of cell capacity eventually. During Tesla’s earnings call Mr. Musk showed pictures...
MidAmerican, SunPower Begin “Major Construction” at Antelope Valley
James Montgomery Joshua trees in Antelope Valley, CA. Photo by Tom Hilton MidAmerican Solar and SunPower have begun "major construction" at the Antelope Valley Solar Projects (AVSP), two co-located megasolar projects totaling a combined 579 megawatts (AC) generation capacity that MidAmerican bought earlier this year for $2+ billion. Construction work technically began in January with laying groundwork and putting infrastructure in place, such as trailers and supplies. One MW has already been installed at AVSP, and now efforts will ramp up over the coming weeks with more workers...
Ascent Solar: Grounded
By Brandon Qureshi Recently, Ascent Solar Technologies (ASTI: Nasdaq) , a publicly traded solar power company, received an additional $5.0 million from institutional investor Ironridge Technology, thereby completing a $10 million Series B Preferred Stock investment. AST, based in Thornton, Colorado, has emerged as a leader in the development of flexible, thin, high-performance solar panels. In order to examine AST within an industrial context, a profile of the solar power industry is necessary: According to sources such as Time and E&E Publishing, the industry has experienced record levels of popularity in the United States in the last...
Metrics for Thin Film Solar CIGS Company Comparisons
Joseph McCabe Many people ask me, “which CIGS company is going to emerge as winner in the race towards high efficiency thin film PV’s? To provide an enlightened perspective to the question, some historical perspectives are needed. First Solar (FSLR) has helped the Thin Film PV Industry by proving that respectable solar to electric area efficiencies can be achieved in a low cost manufacturing processes, with respectable performance over time. First Solar’s technology is cadmium telluride (CdTe) on glass. Previously, amorphous silicon was the thin film leader, with the highest commercially available thin film area efficiencies; currently they...
Buyer’s Guide to New York Community Solar
By Ishaan Goel
WHY COMMUNITY SOLAR?
A home solar system is a great investment, with financial returns far in excess of any financial investment that has comparable risk. It’s also a tangible step a homeowner can take to help the environment.
Unfortunately, most New Yorkers (and Americans in general) can’t install home solar. They may be renters, or have roofs that are too old or shaded. Or they may not be able to afford the up-front cost, or not have enough income to take advantage of the tax credits.
That is why New York’s electricity regulator, the Public Service Commission, created community solar:...
Sunpower’s Mating Call
SunPower Corporation (SPWR: Nasdaq) has sent out an unusual mating call. Like a bird with a newly built nest, the company is seeking a partner to help build out and operate SunPower’s production facility in Hillsboro, Oregon. The plant was acquired in late 2018, from SolarWorld Americas after the Trump administration slapped tariffs on solar panels imported to the U.S. Domestic production, even at higher local costs, could make sense when compared to such prohibitive import tariffs.
Uncomfortable Three-some
Some investors might see the tie-up as an uncomfortable three-some. Indeed, the solar panel tariffs came about when SolarWorld Americas and its compatriot Suniva filed an application...
Solar’s War of the Dead
Doug Young The fight for survival among the world's embattled solar panel makers is starting to look more like a battle of the dead, with word that bankrupt US player Solyndra is suing 3 of its biggest Chinese rivals over allegations of running an illegal cartel. Some of you might be saying: "Wait a minute, doesn't Solyndra have better things to do than to be filing lawsuits against rivals who are also flirting with bankruptcy?" If that's the question, then the answer appears to be "no". Perhaps the failed Solyndra is still seeking some final respect,...
SunEdison Launches Yieldco; Trend Will Be Transformative For Solar
James Montgomery SunEdison proposes Yieldco IPO The proposed initial public offering (IPO) of common stock for a new yieldco vehicle, with terms yet to be determined, was announced hours before the company's quarterly and year-ending financials. Reports over the past couple of months have suggested a SunEdison (SUNE) yieldco could generate a $300 million payday. Later this month (Feb. 24) the company will hold its Capital Markets Day with a more extensive analysis of its business strategies, and surely this will be a big topic of conversation. Here's why SunEdison...
Yingli Can Make Debt Payment, But It’s Still Weak
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...
