AEIS, SUNE to lead continuing solar PV recovery in 2014, Needham says

|By:, SA News Editor

The recovery in the solar PV sector (KWT +1.9%; TAN +0.8%) should continue into 2014, Needham says, tapping Advanced Energy (AEIS +1.8%) and SunEdison (SUNE +0.8%) as its top picks in the space.

Needham believes the solar sector will continue to improve due to technology approaching grid parity in several unsubsidized markets; increased availability of financing through a number of private funds and public vehicles; a more balanced supply/demand; and reducing cost structure.

The firm believes overall worldwide solar installation will grow from 36 GW in 2013 to 42 GW in 2014, driven by rising demand in China, the U.S. and several emerging markets, while demand out of the Europe and Japan will remain stable.