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Robert Dydo  

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  • Avoid Yingli Green Energy [View article]
    Well I hope I could help to stop crazy recommendations with this article and spare few dollars to some investors.
    May 19, 2015. 10:07 AM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    The company, which invest more money in research but sells land and does not pay pension to its workers, should be avoided. The R&D can take all kind of spending, which surprisingly has nothing to do with research.
    May 8, 2015. 11:30 AM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    Chinese media talks about a lot of debt stress. Market does not like it.
    May 8, 2015. 10:56 AM | 1 Like Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Check again
    May 8, 2015. 10:55 AM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    That does not sound good
    "The Company is unable to file its 2014 Form 20-F on or before the prescribed due date of April 30, 2015 because the Company needs more time to prepare and review its consolidated financial statements as of and for the year ended December 31, 2014 and notes thereto, as well as to complete its assessment of the effectiveness of its internal control over financial reporting."
    Asking for extension to file annual reporting for foreign companies 20-F.
    Apr 30, 2015. 08:36 AM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    two more payments in next 12 months. It is going to get tougher not easier for them.
    Apr 30, 2015. 08:34 AM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    They have $200M payable bonds due on May 3rd. They just sold a land (local government support) for about $96M. employees report the company is not paying for pensions since beginning of the year. There are at least next two more dates for bonds within 12 months after one in May 3rd. Liquidity is the issue here.
    There are many companies, which offer as many benefits and little risk.
    Apr 24, 2015. 08:34 AM | 2 Likes Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Hi Awayk,
    I am not sure what market will do, but selling off because how you report profit changes, is a not a good reason to me. Since yield unlocks cash, it is only better for any company. For Canadian is so much better as they are very efficient in making money.
    I am not sure on dividend aspect. I know there is a withholding tax on dividend on the US equities when in Canada, but I would suggest investigate this on your own with your broker or accountant.
    Apr 13, 2015. 11:43 AM | 2 Likes Like |Link to Comment
  • The Growing Role Of Module Efficiency In The Solar Industry [View article]
    I was hoping that you find a good reason for high-efficiency logic. There is one. It is called cost/scale ratio. Second it is separation.
    The first one works like this. If you spend $0.45 per watt to produce 265W module or $1192 per 60-c/module then if you are able increase its performance to 285W for the same cost you have cost of $0.42 per watt. This means selling 3GW of modules puts $90M at your bottom line.

    Second you can buy turn-key solutions today, which can lead to this. However as the organization you always look for better way to spend money. You know what the best way is? Not to spend at all.
    High-Efficiency is a turn-key solution matter. You can get it if you want it, but why would you? The one reason is differentiation. If you can sell 285W module for the price of 265 per watt, without premium everyone who offers 265W module lost business. If you adding premium like SPWR say would so they can get gross margins for own business, they have limited business growth potential.
    Apr 13, 2015. 10:06 AM | 1 Like Like |Link to Comment
  • The Growing Role Of Module Efficiency In The Solar Industry [View article]
    what do you do with the roof space paying 50% more for a panel?
    Installation is based on per watt basis not per panel.
    Can you say what current trend are you speaking off?
    SunPower retail program ? It is not a success for customers versus places like SolarCity. So the demand is not driven bu higher efficiency.
    Give data please
    Apr 13, 2015. 09:50 AM | 1 Like Like |Link to Comment
  • Does High Module Efficiency Make SunPower A Better Company? [View article]
    User 7584291
    Let me help you again. I quote cell conversion of 25%, and I use nominal output of the module for SPWR at 335W comparing to 265W. I do not use them interchangeably, it may appear to you as you trying to learn, but I wrote articles on this topic in 2011
    http://bit.ly/1FBxt5p
    335W rates at 21.21% module rating and using 60 module configuration has 5.75W output or 23.63% rating for the cell. A module at 265W has 16.3% rating and uses a cell at 18.2% rating.
    The article I quote shows cell at 25% rating which is 6.08W out and in the 60-cell combination it would produce 365W module at the conversion module rate of 22.44%
    I am rather well equipped in portraying the subject.
    PERC is a cell structure, like IBC used by SunPower, which stands for interdigitated back contact.
    Trina Solar is making IBC cells and puts them to modules delivering 24.4% cell ratings, like SUnPower's. It is all about COGS, and demand. Technology is available, but why spending millions if you can make millions and deliver the same output via 30% larger footprint?
    http://bit.ly/1FBxvud
    DO you really think that SunPower has a superior technology?
    This is why they are buying n-type mono wafers from Chinese company Comtec?
    All the best in investing
    Robert
    Apr 13, 2015. 12:47 AM | 1 Like Like |Link to Comment
  • Does High Module Efficiency Make SunPower A Better Company? [View article]
    Hi S.H,
    Let me correct something. I am not advocating selling SPWR or buying anything else instead. I am saying there is a premium on the stock, which is not found in business conduct. I look at the SPWR tech at 345W 15% away from 25% conversion mark. 265W module is 35% off from that mark. SPWR getting its module to 10% away from the mark is going to be multiple times harder than getting 265W to 345W. Assume 265W moves into 345W this transition happens this is a $0.34 per watt. JKS expects to be in the area of $0.41 by the end of this year and not on efficiency alone. It is my fault that I suggested a path to $0.30 in my article as a mechanism of the efficiency only, which is not. However, it will play a very important part. Q4 2011, three years ago, JKS cost per watt was $0.91. While things are not linear for the same reason SPWR work is tougher to improve, improvements will happen. I think GTM seen poly reductions, which are pretty close to SPWR poly use of 4.1g/w. This would drop the poly price as $0.07 per watt and in best cells the cost would be 25% cost of the module. This is $0.28 total. Add scale, automation, damage reduction, less kerf, material management like replacing silver to cell structure, which PERC is, I believe it. Thank you for your comments.
    Apr 12, 2015. 11:18 AM | Likes Like |Link to Comment
  • Does High Module Efficiency Make SunPower A Better Company? [View article]
    Mark,
    Since you brought this up you are aware that SPWR settled $20M in warranty cases during 2014 the most they ever did in last three years? They have $155M in accrued costs currently. As you also may know, warranty costs are based on module costs. For last two years Chinese companies have managed to lower own accruals in warranty due to that phenomenon. Not SPWR. Their accruals increase 40% in one year!!! Care to tell why?
    Canadian had $1.2M in 2013 (last annual filed) in actual incurred costs versus $8M filed in 2013 by SPWR. I can tell you that Canadian sold 2.3 times of modules SPWR did. I can help with the math as well.
    That is 1500% times more than Canadian warranty payouts.
    Apr 11, 2015. 06:53 PM | 1 Like Like |Link to Comment
  • Does High Module Efficiency Make SunPower A Better Company? [View article]
    Mark is referring to material warranty. SPWR offers 25, while standard is 10 years.
    Apr 11, 2015. 06:30 PM | Likes Like |Link to Comment
  • Does High Module Efficiency Make SunPower A Better Company? [View article]
    Mark@
    I called on 335W module to compared it to 260W one, there are 265W, 270 and 280W modules; I used one for this series, which is middle of the road rating. This is not a core point of my article; it is simply a reference to rating higher than averages currently on the market. It sounds like you missed the point of the article completely. I also did not pick the price. I averaged the price per watt to show the comparison selling modules volume versus what revenue each company gets. It is finance Mark, not your business quotes. You need to get out of the box of you profession to try to understand what I am comparing, because it is beyond the module price as wholesale, distribution or otherwise. It is called power of revenue per watt declared as sold, but includes of course more than modules, particularly when referring to CSIQ. Once more my core point is this:
    SPWR earns a lot less per share and spend a lot to do it. Their high-efficiency modules ……feel the blanks do not produce premium worth paying extra for shares of the company, yet investors do. There
    Going back to yours I am not sure what point you have. Are you having a problem with Canadian panels? Are you quoting an article from NYT which indicates panels from China having a problem? If you are selling/installing bad panels and knowing it, I doubt you made yourself a favor. If you think Canadian panels will be bad in the future, are you forecasting this on evidence? For someone who has no interest your negativity about alleged problem sounds too naïve to be taken as objective by me. I am sure that Canadian would love to hear from you to work on their reputation when it is at stake.
    Apr 11, 2015. 06:18 PM | 1 Like Like |Link to Comment
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