China Won’t Impose Tariffs on EU Polysilicon: Solar Trade Tensions Cool
Doug Young After months of heated rhetoric, the voice of reason is growing between Europe and China as they seek to end their dispute over Beijing’s state support for its solar panel sector. In the latest sign that a potential agreement to resolve the dispute could be near, Beijing has decided not to levy punitive tariffs against European polysilicon, the main ingredient used in making solar panels. (English article) Many had seen China’s launch of an anti-dumping investigation into European and US polycilicon imports last year as a retaliatory move for similar US and European investigations into Chinese...
Are Solar PV and Wind Incompatible with Nuclear and IGCC?
Paul Denholm, a Senior Analyst at the National Renewable Energy Lab (NREL), sees an upcoming struggle between renewable sources of electricity such as photovoltaics (PV) and wind with low-carbon baseload alternatives for space on the low carbon grid of the future. These baseload alternatives are nuclear and Internal Gasification Combined Cycle coal plants with Carbon Capture and Sequestration (IGCC w/ CCS, refereed to by advocates as "Clean Coal). This may come as a shock to advocates of the idea that Global Warming is such a big problem that we will need all forms of low carbon electricity, because the...
The Dangers of PR Driven Solar News
by Paula Mints Few people understand the time, money and effort required to develop and manufacture high quality solar technologies. We can blame this fact on a reliance on press releases for news about the solar industry. Manufacturers drive these misunderstanding by not properly explaining that champion results are not analogous to or in many cases near commercial viability. The PERC, passivated emitter rear contact solar cell, now gaining market traction began its long trudge to commercial competitiveness in the mid-1980s. When manufacturers announce results without fully ex-plaining these results the effect is misleading and also...
LDK CEO Removed in Continuing China-Backed Rescue
Doug Young After a week of unusual quiet on the stormy solar panel front, the sector is splashing back into the headlines with word that struggling LDK Solar (NYSE: LDK) is moving one step closer to a state-led takeover of the debt laden company. Meantime, China is also taking its own broader moves against recent protectionist actions in the West by lodging an official complaint at the World Trade Organization against what it is calling unfair treatment of its companies in Europe. Let's take a look at the LDK news first, as it's the most dramatic and...
Lights Dim At LDK As Deadline Looms
Doug Young Dim lightbulb photo via BigStock I haven’t written about LDK Solar (NYSE: LDK) for a while, so it seems like the release of its latest quarterly results might be a good chance for a final look before the lights go off permanently at this struggling solar panel maker. Somewhat appropriately, LDK announced its results on the same day it also said it continues to negotiate with international investors who are still waiting for an overdue payment on their bonds. (company announcement) The bondholders have just...
Report: Two Solar Technologies That Will Thrive; Two On the Demise
Steve Leone Solar technology photo via BigStock For every revolutionary advance in solar, there are countless evolutionary dead-ends technologies that were well worth exploring, but ones that ultimately failed to live up to the mantra of "cut costs or die." These are the Solyndras of the world. Their science may have raised the bar, but ultimately they were judged by the market, which measures the bar on cost alone. From that perspective, it’s more like a limbo line “How low can you...
The Most Sustainable Solar Companies
Ed Gunther Trina Solar scores 94 to lead the 2012 SVTC photovoltaic (PV) solar sustainability survey. Making the SEIA Solar Commitment. The Silicon Valley Toxics Coalition (SVTC) released the 2012 SOLAR SCORECARD just in time for the SNEC 6th (2012) International Solar Industry and Photovoltaic Exhibition & Conference in Shanghai, China. Trina Solar Limited (NYSE:TSL) achieved the best result followed by SunPower Corporation (NASDAQ:SPWR) at 93, and CASM (Coalition for American Solar Manufacturing) protagonist SolarWorld AG (OTC:SRWRF) with 91. In SVTC’s own words: The Scorecard reveals how companies perform on...
China’s Solar Panel Makers Set For A Correction
Doug Young After a massive rally over the last year, shares of solar panel makers could be set for a few months of winter following a disappointing earnings announcement from superstar Canadian Solar (Nasdaq: CSIQ) and a debt default from second-tier player Chaori Solar (Shenzhen: 002506). Such a correction was almost inevitable after last year’s huge rally and shouldn’t be cause for concern among long-term buyers of shares in top players like Canadian Solar. But shareholders of second-tier firms like Chaori might think strongly about selling their stock, as these smaller companies could easily end up getting wiped...
Solar REITs: A Better Way to Invest in Solar
Tom Konrad CFA The last day for a solar developer to submit an application for the Treasury’s 1603 grant program was September 30th, and only for grandfathered solar projects which broke ground before the end of 2011. Solar panel prices have continued to drop this year, but solar project development remains a capital-intensive business. The 1603 program allowed solar developers to monetize the solar investment tax credit (ITC) much more quickly than they could otherwise, and this essentially reduced their cost of capital. As the rush of projects begun before the end of 2011 are completed, developers are looking...
Bankruptcy Fears for China’s LDK Solar
Marc Kenneth Howe Chinese photovoltaics leader LDK Solar (LDK) is headed for bankruptcy according to industry observers within China, due to its immense debt burden and a global downturn in the solar energy market. China’s Nanfang Zhoumo reported on May 26 that bankruptcy rumors have plagued LDK in recent months, causing investors to seek to divest themselves of shares in the company and regional clients to suspend orders for the company’s products. One of LDK’s leading investors, Guokai Jinrong, is believed to have sought buyers for its stake in the company since the start of 2012, with...
First Solar Buys GE’s Tech: A Defensive Move?
James Montgomery Flexing its muscles yet again, thin-film solar PV leader First Solar (FSLR) has quietly acquired GE's (GE) similar solar intellectual property portfolio, but questions linger about whether and when the company will see the benefits. The deal includes both a specific module purchase commitment plus a longer-term commitment with agreed-upon pricing "over an extended period of years," according to First Solar CEO Jim Hughes during the company's 2Q13 earnings results. GE, meanwhile, will supply inverters for First Solar's global deployments, technology acquired through French firm Converteam, and it will seek to sell solar PV...
Solar Investing: Where Politics & Finance Come Together
Most solar sector watchers will remember the second half of May 2008, when the solar world collective held its breath awaiting to find out what German policy-makers were going to decide about solar subsidies in that country. All this commotion was caused by the fact that Germany, despite lacking favorable physical conditions in the form of ample sunshine, had become the world's largest solar market on the back of a very aggressive incentive program. Germany alone is in fact so critical to sales growth in the solar sector that the mere announcement of a review of the subsidy caused...
LDK Melts Down, Solar Default Signs Grow
Doug Young One of China’s 2 major meltdowns in the solar panel sector has taken a big step forward with word that trading in shares of LDK Solar (NYSE: LDK) has been suspended and the de-listing process formally begun as the company liquidates. Meantime, word of a missed interest payment by a building materials maker is sending the latest signal that China will let more companies in ailing sectors default on their debt rather than pay off their creditors. That’s an important signal for the solar sector, which relies heavily on such debt to finance its operations and where...
The Top Ten PV Manufacturers: What The List Doesn’t Mean
by Paula Mints Every year at this time lists of lessons learned during the previous year give way to lists of top ten PV manufacturers. It’s time to ask what these lists mean, and whether they have a purpose to the ongoing growth and health of the photovoltaic industry. So Many Numbers, So Little Time There is more than one way to size the photovoltaic industry and unfortunately, much of the time are the metrics are considered to be synonymous. The PV industry is sized by capacity, shipments, production, module assembly capacity, installations and...
First Solar Won the Race; The Environment Lost
Joseph McCabe, PE In 2011, I wrote about the CdTe Horse Race in which the three US companies making cadmium telluride (CdTe) photovoltaic (PV) modules, First Solar (FSLR), Abound Solar and General Electric (GE Solar, stock ticker GE) jostled for position. Abound and GE were challenging the reigning champion First Solar to build the largest PV manufacturing facility in the world. The official results of that race are in, and First Solar has beaten the competition by many lengths. Within about a year of each other both Abound and GE Solar...
Bargain Priced Alternative Energy Stocks
A review of Crystal Equity Research’s novel alternative energy indices found a number of companies that have delivered exceptional price appreciation over the last year. Several were reviewed in the recent post “Alternative Returns” on May 8th. Expectations for growth appeared to be driving the price movement, so the last post “Quest for Growth” featured four companies from the indices for which analysts have posted high growth predictions. Not unexpectedly some investors have already bid higher the stocks of those promising companies.
In this post we go back to the lists to find the companies with both high growth predictions and low price-earnings...
