Jack Yetiv

LDK Solar Nearly Doubles Estimates

CSIQ announces earnings in the AM, and SOL and TSL announce early next week, as I recall. This could give us all a well-deserved solar rally over the next couple of weeks.

Nobody is paying attention to this, but there are half a dozen countries that could take Spain's place, if Spanish demand craters, which it probably will not (I project Spanish demand next year to be 30% less than this year, but that's still very strong). Other countries coming on strong are Italy (TSL is leading supplier there), Czech Republic (with other eastern European countries probably not far behand), France, Luxembourg, Korea, Japan and Australia. Germany will continue to remain strong.

Don't forget China itself--I think we will see very substantial demand for Chinese solar panels coming from China itself in 2009.

Finally, don't forget the US, where potential demand will ramp up very quickly when renewable energy subsidy legislation is finally passed here, which it will.

I predict that even if Spain remains strong next year, it will account for less than 20% of global demand next year, and possibly far less than that.

Jack