Sep. 12, 2014, 4:13 PM
Sep. 12, 2014, 2:14 PM
- Solar stocks are on the move after Trina Solar (TSL +3.7%) CEO Gao Jifan says its factories are operating at full capacity but the company still can't meet the demand for its solar panels.
- China's top three solar panel makers are at full capacity and will have to expand their production, Gao says, noting that TSL's solar panel production will rise to 3.8 GW by year-end, up from ~3.4 GW at the end of June.
- China recently announced new subsidies for smaller solar energy projects, which Goldman Sachs says will make selling power to the country's electrical grid much more lucrative for the operators and will cause prices of solar components to rise.
- CSIQ +2.6%, CSUN +7.4%, YGE +3%, FSLR +1.7%, SPWR +0.8%, JASO +2.4%, SOL +5.4%.
- ETFs: TAN, KWT
Sep. 5, 2014, 4:25 PM
Sep. 4, 2014, 1:51 PM
- Making good on an August Bloomberg report, China's National Energy Administration (NEA) has called on local governments to identify and support distributed solar projects in their realms.
- As previously reported, extra subsidies will be encouraged for rural and government projects, public infrastructure installations will be promoted, and financial firms have been told to offer discounted loans.
- The NEA is trying to hit an 8GW 2014 distributed solar installation target in spite of a slow start to the year. Its target for utility-scale projects stands at 6GW.
- Several Chinese solar stocks are rallying, as are a few non-Chinese names. YGE +5.1%. CSIQ +3.6%. JASO +3.8%. TSL +2.3%. SOL +2.1%. HSOL +5.2%. DQ +4.7%. ENPH +6.6%. ASTI +6.1%. RGSE +2.8%. SolarCity (SCTY +5.1%) is up after announcing plans to open 20 new operations centers.
- Solar ETFs: KWT, TAN
Aug. 29, 2014, 4:20 PM
Aug. 22, 2014, 4:17 PM
Aug. 19, 2014, 10:20 AM
- "Based on our checks, we estimate the probability of [trade settlement] success is now ~30-40% vs. prior expectations of 5-10%," writes Roth. "The narrative for Chinese solar stocks, in our view, has shifted to a more positive tone."
- Roth's remarks follow a letter from a law firm representing the Chinese government to the U.S. Commerce Department proposing talks for a solar tariff suspension agreement. Last week, Beijing retaliated against U.S. solar module tariffs by closing a loophole for U.S. and Korean polysilicon imports.
- Though admitting many Chinese suspension offers have been rejected over the years, Roth thinks "the Chinese government would not have made an offer without believing it would have a decent probability of success as it does not want to be rejected by the US government publicly."
- Notable gainers: YGE +3.9%. TSL +3.9%. JASO +3.3%. SOL +3.9% CSUN +6%. HSOL +4.3%.
- Solar ETFs: TAN, KWT
Aug. 15, 2014, 4:14 PM
Aug. 8, 2014, 4:22 PM
Aug. 5, 2014, 11:57 AM
- Bloomberg reports China's National Energy Administration (NEA) might soon announce policies calling on local planners to support more distributed solar projects - specifically, projects in industrial zones, and for companies with buildings sporting large rooftops.
- Among others things, local governments will be encouraged to offer more distributed solar subsidies, and to promote installations on public infrastructure. Financial firms will be urged to offer discounted loans, and to create solar investment funds.
- China is aiming for 8GW of 2014 distributed solar installations (to go with 6GW of utility-scale installations), but there have been doubts the target will be hit following a slow start to the year. Deutsche argued in May 2GW could be a more realistic distributed target.
- Chinese solar names are up strongly. U.S. giant First Solar reports after the bell. TSL +8.4%. CSUN +7.6%. JKS +8.3%. SOL +6.7%. CSIQ +6.3%. JASO +5.7%. HSOL +4.8%. YGE +4.8%. DQ +4.1%. YGE +4.8%.
- Solar ETFs: TAN, KWT
Aug. 1, 2014, 4:24 PM
Aug. 1, 2014, 12:26 PM
- Solar stocks are underperforming (TAN -4%) amid a market selloff after SunPower (SPWR -8.5%) posted mixed Q2 results and provided Q3/2014 guidance ranges with midpoints below consensus.
- SunPower also announced it's building a new plant (Fab 5) that could go live in 2017 and eventually produce 700MW+/year of modules, boosting its capacity by over 50%. "Our share has been in single digits for a while and demand for the last 24 months suggests that we can expand share," says CEO Tom Werner.
- The announcement comes 6 weeks after SolarCity (SCTY -3.5%) unveiled plans to build a 1GW+ module plant with newly-acquired Silevo's help, and said it will later build "one or more significantly larger plants at an order of magnitude greater annual production capacity."
- Minimal capacity investments, together with rising U.S./Asian demand, have helped module prices stabilize following gut-wrenching declines in prior years.
- Also: SunPower stated on its CC (transcript) it hasn't decided whether to create a solar project YieldCo similar to SunEdison's (SUNE -4.3%) TerraForm Power (TERP -4.7%), which recently turned in a strong IPO. "It does not look like the company is likely to make a decision anytime soon," says Raymond James.
- Nonetheless, Brean has upgraded SunPower to Buy, citing optimism about strong demand and healthy pricing.
- Other notable decliners: FSLR -3.6%. TSL -8.4%. JKS -6%. CSIQ -5.6%. CSUN -5.7%. YGE -5%. SOL -4.5%. ENPH -5.8%. RGSE -4.5%. HSOL -3.9%. JASO -4.4%.
Jul. 28, 2014, 7:59 AM
- Solar names are under pressure following the U.S. government's move to place anti-dumping duties as high as 165% percent on solar panels and cells from China.
- China condemns the action, saying "if escalating problems in the China-U.S. solar industry are ignored, in the end it will damage up and downstream industries in both countries."
- Moving sharply lower premarket: YGE -5.1%, CSIQ -4.3%, JKS -3.8%, TSL -2.7%, JASO -2.5%, SCTY -2.2%, HSOL -4.9%
- Moving up: SPWR +1.8%, FSLR +2.7%.
- ETFs: TAN, KWT
Jul. 25, 2014, 4:14 PM
Jul. 14, 2014, 1:38 PM
- WTO judges have ruled the U.S. imposition of tariffs on Chinese solar modules, steel products, and other exports violates global trade rules.
- Though rejecting some Chinese arguments against U.S. tariffs, the judges ultimately ruled the tariffs are inconsistent with obligations under the 1994 Marrakesh accord.
- The U.S. originally imposed tariffs on Chinese solar module exports in 2012, and followed up last month by slapping new preliminary tariffs meant to close a loophole related to the use of non-Chinese cells.
- Chinese solar stocks are rallying on an up day for equities: YGE +4.8%. SOL +3.1%. CSUN +5.5%. TSL +2.6%. JKS +2.8%.
- SolarCity (SCTY +2.4%), which relies heavily on Chinese module imports (that might change in a few years), is also higher.
- Solar ETFs: KWT, TAN.
Jul. 11, 2014, 4:13 PM
The Guggenheim/MAC Global Solar Energy Index ETF seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the MAC Global Solar Energy Index. The Fund will normally invest at least 90% of its total assets in common stock, American depositary receipts and global depositary receipts that comprise the Index. Guggenheim Advisors, LLC seeks a correlation over time of 0.95 or better between the Fund’s performance and the performance of the Index. The Index is designed to track companies within the following business segments of the solar energy industry: companies that produce solar power equipment and products for end-users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers, companies that supply raw materials or components to solar power equipment producers or integrators; companies that derive a significant portion of their business (measured in the manner set forth below under “Index Methodology" section) from solar power system sales, distribution, installation, integration or financing; and companies that specialize in selling electricity derived from solar power.
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