Canaccord Genuity Morning Coffee on Suntech Power (STP), Yingli Green Energy (YGE) and First Solar (FSLR): At What Cost?
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Price: $0.53 --0%
Rating Summary:
1 Buy, 8 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 8 Hold, 12 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Suntech Power (NYSE: STP), Yingli Green Energy (NYSE: YGE) and First Solar (Nasdaq: FSLR): At what cost?
Bloomberg put out a report Monday, highlighting, "Japan is poised to overtake Germany and Italy to become the world’s second-biggest market for solar power as incentives starting July 1 drive sales for equipment makers." The new incentives may spur at least $9.6 billion in new installations with 3.2 gigawatts of capacity. Japan ranked sixth worldwide by new installations last year, when it added 1.3 gigawatts of solar to bring its installed base to 5.0 gigawatts. Only China will exceed Japan in terms of solar capacity growth as it supplants Italy and Germany, which held the top two positions in 2010 and 2011. Japan's Prime Minister's effort to cut dependence on atomic energy will help a solar industry suffering incentive cuts across Europe. Bloomberg also noted that Japan's solar power plan is raising concern among Japanese business groups that clean power aid will raise bills and slow Japan’s economic recovery. “This is a mechanism with a high degree of market intervention by setting tariffs artificially high and making users shoulder the cost. We question the effectiveness of such a scheme,” stated Masami Hasegawa, senior manager of the environmental policy bureau of Keidanren, Japan’s most powerful business lobby - which counts Toyota Motor (NYSE: TM) and Nippon Steel among its members.
NOTE - shares of SunPower (Nasdaq: SPWR) are trading up 3% this morning, JinkoSolar (NYSE: JKS) is up almost 2%, STP up almost 5%, JA Solar (Nasdaq: JASO) up 1.75%, FSLR up 5.6%, YGE up 3.5%. LDK is trading lower on the session.
Bloomberg put out a report Monday, highlighting, "Japan is poised to overtake Germany and Italy to become the world’s second-biggest market for solar power as incentives starting July 1 drive sales for equipment makers." The new incentives may spur at least $9.6 billion in new installations with 3.2 gigawatts of capacity. Japan ranked sixth worldwide by new installations last year, when it added 1.3 gigawatts of solar to bring its installed base to 5.0 gigawatts. Only China will exceed Japan in terms of solar capacity growth as it supplants Italy and Germany, which held the top two positions in 2010 and 2011. Japan's Prime Minister's effort to cut dependence on atomic energy will help a solar industry suffering incentive cuts across Europe. Bloomberg also noted that Japan's solar power plan is raising concern among Japanese business groups that clean power aid will raise bills and slow Japan’s economic recovery. “This is a mechanism with a high degree of market intervention by setting tariffs artificially high and making users shoulder the cost. We question the effectiveness of such a scheme,” stated Masami Hasegawa, senior manager of the environmental policy bureau of Keidanren, Japan’s most powerful business lobby - which counts Toyota Motor (NYSE: TM) and Nippon Steel among its members.
NOTE - shares of SunPower (Nasdaq: SPWR) are trading up 3% this morning, JinkoSolar (NYSE: JKS) is up almost 2%, STP up almost 5%, JA Solar (Nasdaq: JASO) up 1.75%, FSLR up 5.6%, YGE up 3.5%. LDK is trading lower on the session.
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