Energy Conversion Devices and First Solar Aim to Put Challenging Year Behind Them
The Paragon Report Provides Equity Research on Energy Conversion Devices & First Solar
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/15/11 -- The number of headwinds facing the solar sector has grown considerably. The bankruptcy of several high-profile US solar companies has weighed heavily on solar stocks of late, while in China, environmental concerns are causing a dent in solar's clean energy reputation. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on Energy Conversion Devices, Inc. (NASDAQ: ENER) and First Solar, Inc. (NASDAQ: FSLR). Access to the full company reports can be found at:
Solar Energy's "environmentally friendly" reputation took a hit last quarter in the aftermath of an environmental crisis at a JinkoSolar facility in Haining, in Zhejiang Province. More than 500 villagers near Haining in eastern Zhejiang province overturned eight vehicles and damaged four police cars in protests at JinkoSolar's factory last weekend, according to footage from a local television report posted on the website of the city's government. Protesters gathered for a third day on Sept. 17 to demand an explanation for the death of fish last month, the official Xinhua News Agency reported.
Solar stocks were already reeling after the Obama-supported solar panel maker Solyndra filed for Chapter 11 bankruptcy protection, saying it could not compete with overseas rivals with cheaper products. Adding more fuel to the fire, solar energy product maker Energy Conversion Devices Inc. said earlier this month that it has temporarily suspended manufacturing and is planning about 500 job cuts. Energy Conversion Devices has been restructuring its operations since May. It said it expects to return to normal production levels within 60 days.
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There remains some optimism that the long term growth prospects remain strong in the solar industry. Based on a study looking at five major solar markets -- Germany, Italy, France, Spain and Britain -- the European Photovoltaic Industry Association (EPIA) said that power generated from solar modules in Europe could be competitive in relation to conventional forms of energy by the end of the decade. "Under the right policy and market conditions, PV competitiveness with grid electricity can be achieved in some markets as early as 2013, and then spread across the continent in the different market segments by 2020," EPIA said.
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Datum: 15.11.2011 - 13:16 Uhr
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