Financial Information
German FiT, Asian Entrants Spell Trouble for Solar Leaders
04 May 2012POSTED IN Business News
Centrotherm and Wacker Chemie, leaders in the solar industry, both posted first quarter losses, reflecting the cuts in government incentives as well as the influx of lower-cost Asian products entering the market.
First Solar, Inc. Announces First Quarter Results, Hughes CEO
03 May 2012POSTED IN Business News
First Solar, Inc. today announced financial results for the first quarter of 2012. Net sales were $497 million in the quarter, a decrease of $163 million from the fourth quarter of 2011, primarily due to lower volumes for module-only sales, and $70 million below the first quarter of 2011, primarily due to lower average selling prices and lower volumes for module-only sales, which was partially offset by higher systems revenue. In addition, the company announced that James Hughes has been appointed Chief Executive Officer. Hughes succeeds Mike Ahearn, First Solar's founder and Chairman, who has been serving as interim CEO since Oct. 2011. Hughes joined First Solar in March as Chief Commercial Officer. Ahearn will continue in his role as Chairman of the Board.
SolarCity Goes Public
01 May 2012POSTED IN Business News
SolarCity Corporation plans to conduct a registered initial public offering of its common stock, expected to commence after the SEC completes the review process initiated by SolarCity’s draft registration statement that was submitted 26 April, 2012.
REC Agents Association Formed in Australia
01 May 2012POSTED IN Business News
Australia's clean energy regulatory framework has been strengthened with the announcement today of the establishment of a new, independent body to represent businesses and individuals (Agents) that create and trade in Renewable Energy Certificates (RECs).
Dye-Sensitised Cell PV Market Poised for Growth
23 April 2012POSTED IN Business News
Industry analyst firm NanoMarkets announces the release of its latest report on the dye-sensitised cell (DSC) market entitled "Markets for Dye-Sensitised Cell Photovoltaics 2012."
Banco Santander Invests in Abengoa’s Solana CSP Plant
20 April 2012POSTED IN Business News
Abengoa, which is currently developing Solana, expected to be the largest concentrating solar power plant in the world, today announced Capital Riesgo Global, a subsidiary of Banco Santander, will be a financial partner in the CSP project.
CA Sets Pace for US in Clean Tech Race
19 April 2012POSTED IN Business News
California’s lead in the global clean technology race is growing and that leadership is supporting the state’s economic rebound, while also driving California’s ability to cut emissions. These are among the findings of the 2012 California Green Innovation Index released today by the nonpartisan nonprofit group Next 10 and compiled by Collaborative Economics. The Index, the fourth since 2008, tracks the economic impacts of policies that help reduce state carbon emissions in California.
Sol Systems Launches Sol SREC Analytics
18 April 2012POSTED IN Applications News
Sol Systems announced the launch of Sol SREC Analytics, a solar renewable credit (SREC) price forecasting tool that provides a standardized benchmark for the solar industry to utilize when transacting in the SREC space. This new service is designed to bring transparency and greater knowledge to solar stakeholders.
Earth Day 2012: US Catholic Parish to Commission Solar Power System
18 April 2012POSTED IN Applications News
Saint Mary's Parish of Colts Neck, New Jersey (US), in conjunction with Solis Partners, has announced that it will host a ribbon-cutting event on Saturday, 21 April 2012 at 6pm to celebrate the commissioning of its solar power system.
Incentives and Financing of Solar in the US
15 April 2012POSTED IN Business Features
Constructing power plants is no small undertaking. The US Energy Information Administration (EIA) put the average cost for a 650,000 kW APC coal-fired power plant at a little over $2 billion, and the cost for a 1,300,000 kW APC coal plant at almost 3.7 billion in 2010. Nuclear construction was estimated as low as $1,300/kW and as high as $3,500/kW for the most advanced, third-generation nuclear plants.
Salamon Group Presents Offer to Shareholders and Board of ECD
17 April 2012POSTED IN Business News
Salamon Group, Inc. (SGI) has sent a letter of offer to the board of directors and the Company's Registration Offices (CRO) of Energy Conversion Devices (ECD). This offer is for up to 100% of all issued and outstanding shares of ECD in exchange for up to 5 million shares of SGI.
Big Changes Planned as First Solar Seeks a Sustainable Tomorrow
17 April 2012POSTED IN Business News
First Solar announced a series of steps the company will take in restructuring efforts to align operations with sustainable market opportunities, citing deteriorating market conditions in Europe.
Canadian Solar and SkyPower Enter Into Purchase and Joint Venture Agreement
17 April 2012POSTED IN Business News
Canadian Solar Inc. and SkyPower Limited have entered into a purchase and international joint venture agreement, which creates a team comprising of one of the world's largest solar companies and Canada's largest owner and developer of solar projects to build and deploy solar energy solutions in Ontario, and to jointly develop solar projects internationally in select emerging markets.
Just Energy Donates $5K to Food Bank
16 April 2012POSTED IN Business News
Hunger relief efforts in New York’s Southern Tier received a financial boost recently through a donation made to the Food Bank of the Southern Tier by Just Energy, a natural gas, electricity and green energy retailer.
The company donated US $5,000 toward the organization's Strengthening the Root of Local Hunger Relief capital campaign to expand food distribution for the BackPack Program, a child hunger relief program offered by the Food Bank. The program provides nutritious, easy-to-prepare food for school children over the course of the weekend, and aims to supplement the National School Lunch Program that provides food for children during the school week.
Ex-Im Bank Approves $80 Million for Solar Project in India
16 April 2012POSTED IN Business News
The board of directors of the Export-Import Bank of the United States (Ex-Im Bank) has approved an $80.32 million (USD) direct loan for the purchase of concentrated solar power (CSP) technology by Reliance Power, Ltd. in Rajasthan, India.
NPD Solarbuzz Forecasts PV Growth in 2013
16 April 2012POSTED IN Business News
Equipment spending by tier 1 PV manufacturers is poised to resume in 2013 with strong double-digit annual growth rates forecast out to 2016, according to new research in the latest NPD Solarbuzz PV Equipment Quarterly report. This upturn in capacity expansion is being stimulated by the PV manufacturing shakeout, as uncompetitive production lines are either being idled, retired or removed following corporate failures.
SunPower to Close Philippine Manufacturing Operations
16 April 2012POSTED IN Business News
California-based solar system manufacturer SunPower today announced it will consolidate its Philippine manufacturing operations in its effort to reduce manufacturing costs.
Australia's Greenough River Solar Farm Installing Solar Panels
12 April 2012POSTED IN Applications News
One of Australia's largest solar photovoltaic (PV) power projects reached a major construction milestone today as First Solar, Inc. joined owners Verve Energy and GE Energy Financial Services to mark the commencement of panel installation at the Greenough River Solar Farm.
Brightsource Energy Withdraws IPO
12 April 2012POSTED IN Business News
On the eve before it was to go public, BrightSource Energy, Inc., a solar thermal technology company, announced that it has decided not to pursue its initial public offering due to adverse market conditions.
PV Wafer Prices Fall 70%, IMS Reports
11 April 2012POSTED IN Business News
The average price of photovoltaic (PV) wafers in the first quarter of 2012 fell by more than 70% in a year, according to the latest research released by IMS Research, which was recently acquired by IHS. This dramatic price collapse, caused by a global oversupply, has significantly changed the cost structures and strategies of leading PV module suppliers and making many switch from in-house production to buying in their wafer supply. Throughout 2010 and 2011, many suppliers had quickly expanded their in-house wafer capacities. However, as wafer prices have fallen by over US $0.70/W to record lows, suppliers are now reducing their in-house manufacturing and purchasing more wafers from third-party suppliers.
