EU Moderates Tone in Solar Trade Clash with China
Doug Young After more than a year of antagonism, I’m happy to see that the voice of reason finally seems to be coming to the ongoing clash between China and the west in their prolonged dispute over Beijing’s state support for solar panel sector. Germany seems to be the driving force behind this welcome change in tone, following German Chancellor Angela Merckel’s remarks last week that she opposed anti-dumping tariffs on Chinese solar cells being proposed by the EU’s trade office. Merkel correctly realized that a trade war over solar panels wouldn’t benefit anyone, and could potentially deal...
Canadian Solar Bags Another Module Sale
by Debra Fiakas CFA Last week Canadian Solar (CSIQ: Nasdaq) bagged another solar module supply agreement - this time on the home turf of some of its staunches competitors. Of course, the company has its own manufacturing foothold in China. Canadian Solar is to supply its solar modules to China Three Gorges New Energy Company to a 100 megawatt solar power project in Guazhou County in Gansu Province. The modules shipments will be complete by the end of the December 2013, suggesting all the sales will end up recorded yet in the current fiscal year. ...
LDK Posts Steep Loss Amid Mounting Industry Pressure
Steve Leone Margin squeeze photo via Bigstock China's LDK Solar(LDK), a producer of polysilicon, wafers, cells and modules, has reported a steep quarterly loss that underscores the dramatic industry-wide shift that has occurred in the past year. In a weaker-than-expected fiscal first quarter statement posted Tuesday, LDK reported a net loss of $185.2 million, or a loss of $1.46 per diluted American depository share (ADS). During the same period a year ago, the company posted a net income of $135.4 million, or a $0.95...
EU Likely To Impose Sanctions On Chinese Solar Cos
Doug Young Bottom line: The latest EU anti-dumping probe into Chinese solar panels is likely to find that manufacturers violated a previous agreement, which could result in new punitive tariffs by the end of this year. In a move that will surprise to no one, the European Union has formally launched a probe into Chinese solar panel makers who are being accused by European rivals of violating a landmark agreement that averted anti-dumping tariffs. I should really stop using the word “landmark” to describe the 2013 deal between the Chinese panel makers and EU that avoided a...
Alternative Energy Companies Posting Large Returns
Alternative energy companies delivered compelling returns for investors. A look at Crystal Equity Research’s ‘indices’ of renewable energy, conservation and environmentally-friendly technology companies found some exceptional price moves. We review five companies here that have experienced top price moves from 52-week lows.
Codexis, Inc. (CDXS: Nasdaq) has gained 257% from its 52-week low. The company won a place in our Beach Boys group through development of proteins for a mix of applications from biocatalysts for industrial enzymes, chemicals and pharmaceuticals. While the company has started generating revenue from its technology, it has yet to post a profit. Codexis delivered a smaller than expected loss in the...
From Solar 2009: Removing The $2,000 ITC Cap
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...
When Will Solar Microinverters Reach Commercial Scale?
Microinverters are being used in smaller commercial solar installations, but the industry is in flux and coming regulations may drastically change the playing field.
Which Chinese Solar Companies Will Survive The Coming Shakeout?
Tildy Bayar Lux Research’s report, The Great Shakeout: China’s Path to a Rational Solar Industry, outlines the challenges Chinese solar companies will face during the anticipated consolidation, and suggests likely strategies for survival and success in a post-shakeout solar market. While many smaller companies will go under, the nation’s top-tier companies will survive and thrive in an eventual balanced global solar landscape, the report predicts. Policy Measures China’s government will continue to support its solar sector, upping its domestic capacity target in order to boost local demand and reduce its dependence on foreign markets. But Zhun Ma, Lux...
Can Solar PV Survive Without ‘The Consumer’
It's no mystery by now that the credit crisis has been nothing short of a disaster for solar PV stocks. For one thing, risk has been re-priced on an unprecedented scale, and the solar PV sector is, by most measures, a very risk sector. Rising debt costs in an industry where projects typically use between 50 and 70% leverage were bound to take their toll. It also hasn't helped that most people pre-crisis predicted a significant glut of solar PV supply in 2009 on the back of markedly lower silicon prices. Lastly, concerns over the sustainability of generous...
Flying into the Sun
by Debra Fiakas CFA Shares of two solar panel producers appeared on one of our favorite stock screens the other day - energy stocks that have traded downward to a point they appear oversold. Trina Solar, Ltd. (TSL: NYSE) recently closed at $11.22, down 39% from its 52-week high set in early March this year, but well above where the stock was trading a year ago. RenaSola, Ltd. (SOL: NYSE) has followed a similar track, recently closing at $2.61 well above its 52-week low. The question for investors is whether investors should take advantage...
Ten Solid Clean Energy Companies to Buy on the Cheap: #4 Applied Materials (AMAT)
Applied Materials Solar
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...
What I Sold: Carmanah Technologies (CMHXF, CMH.TO)
On Monday, I told readers that I was getting out of companies some which I feel are likely to need to raise new money over the next couple years. I also provided a list of stocks I will be buying when I judge we're near the bottom. This is the first in a series of short articles about those stocks. Carmanah Technologies (CMHXF) I've mentioned Carmanah Technologies (CMHXF) in passing in articles about LED companies. I first became interested in Carmanah in 2005. The company's integrated LED-solar lighting solutions caught my attention because they were (and are) economic regardless...
Will Investors Flock to SunEdison’s Emerging-Market YieldCo?
by Tom Konrad CFA SunEdison is proposing something entirely new: a YieldCo with a focus on projects in Africa and Asia, but it's a long way between an S-1 filing with the SEC and and IPO. The June launch of SunEdison's (SUNE) first YieldCo, TerraForm Power (NASD:TERP), transformed the parent company's prospects. Now it wants to repeat the performance with a first-of-its kind YieldCo that will focus on investment in Africa and Asia. A YieldCo is a publicly traded company that is formed to own operating clean energy assets that produce a steady cash flow,...
Community Solar Providers In PSEG Territory
See the Buyer's Guide to New York Community Solar for details on how New York community solar works and lists for other utility territories.
PRICING STRUCTURE
ADDITIONAL COMMENTS
SPECIAL OFFERS
HarvestPower Solar
Subscription model with a discount from utility rate
Estimated 15-30% savings with no out-of-pocket expenses
SUNation
Short-term and long-term contracts to pay a fixed rate below the utility rate
Estimate 15% savings
Solar Bonds For Small Investors
By Beate Sonerud SolarCity (NASD:SCTY) is issuing US$200m of asset-linked retail bonds, with maturities ranging from 1-7 years and interest rates from 2-4%. Wells Fargo is the banking partner. While the bonds are registered,SolarCity expects the bonds to be buy and hold, and not traded in the secondary markets. The bond is issued for small-scale investors, with investment starting at US$1000, giving this bond issuance a crowdfunding aspect. Choosing such a different structure allows SolarCity to diversify their investor base – the company stresses that small-scale investors are a complement, not substitute, for large-scale institutional investors. While...
