POINT ROBERTS, WA and DELTA, BC--(Marketwire - May 14, 2008) -
www.RenewableEnergyStocks.com, a leading investor news and research portal
for the renewable energy sector within
www.Investorideas.com, presents a
sector close-up on recent developments and trends in the solar industry and
related solar stocks. Insight and commentary features: Canadian Solar Inc.,
Clear Skies Solar, Inc. (
OTCBB:
CSKH), XsunX Inc. (
OTCBB:
XSNX), J.Peter
Lynch and Dr. Robert Wilder, CEO and Founder of The Wilderhill Clean Energy
Index.
Solar Stocks Sector Close-Up:
*As of May 13, 2008
Canadian Solar Inc. was up $6.68 (19.59%) on reported preliminary unaudited
US GAAP financial information for the first quarter ended March 31, 2008.
Net revenues for the quarter were $171.2 million (including $2.2 million of
silicon material sales), compared to net revenues of $17.5 million for the
first quarter of 2007 (including $2.8 million of silicon materials sales)
and $127.5 million for the fourth quarter of 2007 (including $2.4 million
of silicon materials sales). Net income for the quarter was $19.0 million,
or $0.61 per diluted share, compared to a net loss of $3.9 million, or
$0.14 per diluted share, for the first quarter of 2007 and net income of
$5.9 million, or $0.21 per diluted share, for the fourth quarter of 2007.
In a press release issued by the company, Dr. Shawn Qu, Chairman and CEO,
commented, "Our impressive performance in the first quarter was due to a
result of robust market demand for our products, strong pricing, effective
management of foreign exchange exposure, strong operational execution of
our flexible vertical integration business model, and our balanced supply
strategy, which allowed us to increase our product delivery despite a
general market shortage of silicon materials."
The Claymore/MAC Global Solar Energy ETF that tracks an index of 25 global
solar companies was up $0.84 (3.16%) as of the end of trading.
Dr. Robert Wilder, CEO and Founder of the Wilderhill Clean Energy Index,
noted, "A couple of fairly different, conflicting factors are impacting
solar power right now: in Europe the ongoing demand from Germany plus more
recent entrants like Spain are helping push sales globally. On the other
hand looking at the domestic picture, a key Federal tax credit for wind and
solar that probably should have been passed in the U.S. some months ago has
continued to be held up. Here the Bush Administration has opposed allowing
the subsidies now given to oil, to instead be switched to renewables. So
companies exporting solar panels from low-cost regions like China, to high
demand Europe are faring rather well. By contrast the U.S., which once was
the global leader in solar power, continues to face headwinds with our
domestic manufacturers finding better growth in technological innovation
areas like thin films. There is some hope however that more favorable State
policies, such as in California, will begin to be embraced next year in a
faster-evolving Federal solar policy at the national level."
The Wilderhill Clean Energy Index was up $5.08 (2.30%) at the close May 13,
2008.
Tom Djokovich, CEO, of California based XsunX, Inc. (
OTCBB:
XSNX), reports,
"This year we began executing plans developed last year, to build a thin
film amorphous solar module manufacturing facility. Recently we secured a
90,000 sq. ft. facility in Portland OR, to house our first 25MW with over
$1 million of nearly new manufacturing support infrastructure in place, and
we're working to finalizing several important material supply contracts.
While we've been working to get our commercial production ready for first
quarter 2009 it appears that the industry has begun to take notice of the
superior solar absorbing qualities of amorphous silicon. Several other
companies have begun announcing their move towards amorphous and I believe
that this lends credibility to the path we have taken."
CEO Ezra Green, provides insight from his solar company with, "At Clear
Skies Solar (
OTCBB:
CSKH) we're seeing an increase in inquiries and business
not only from large US Corporations who are looking for ways to minimize
utility expenses, but also from countries such as Spain and Greece and
developing countries like India seeking viable energy solutions. We are
even being approached by commercial farmers trying to reduce their carbon
footprints. In addition, with our own internal research and development
department, we're also able to keep ahead of the curve in providing
innovative technologies for solar energy users. Clear Skies Solar's
XTRAX®, which delivers reliable autonomous data readings for solar energy
systems around the United States, is just one example of the innovative new
products we are bringing to market."
Clear Skies Solar (
OTCBB:
CSKH) closed up 14.81 % at market close.
According to solar expert J.Peter Lynch, "Solar Stocks have again surprised
the street and beaten estimates, some by a wide margin. I do expect that
the industry will see some margin pressures in 2009, but for now solar
stocks have regained momentum and are for the most part technically
strong."
"As you can see from the table below. Most of the stocks are above their
short-term technical support (50-day moving average) as well as, their
longer term technical support (200-day moving average). Momentum is strong
and they appear to be coming back from their recent correction."
US Photovoltaic Related Stocks:
*As of Market data May13, 2008
Recent
Name Price 50 Day MA 200 Day MA
Akeena Solar, Inc. 5.2 6.658 6.797
Ascent Solar Technologies, Inc. 15.26 14.285 15.146
Canadian Solar Inc. 34.1 23.652 17.026
China Sunergy Company Ltd. 9.94 8.196 9.141
Distributed Energy Systems Corp. 0.44 0.478 0.601
DayStar Technologies Inc. 4.04 3.188 4.09
EMCORE Corporation 6.92 7.425 9.659
Energy Conversion Devices Inc. 51.62 31.343 28.395
Evergreen Solar, Inc. 8.21 9.191 10.81
First Solar, Inc. 284.84 249.255 188.353
JA Solar Holdings Co., Ltd 22.1 19.963 17.732
LDK Solar Company Ltd. 37.46 29.619 40.254
ReneSola, Ltd. (United Kingdom) ADR 18.83 13.125 12.733
Solarfun Power Holdings Co. 14.94 12.925 15.319
Spire Corporation 13.71 14.753 15.806
Sunpower Corporation 84.4 78.013 89.574
Suntech Power Holdings 41.6 40.976 50.162
Trina Solar Limited 41.6 36.584 44.772
MEMC Electronic Materials, Inc. 67.44 74.049 70.417
Yingli Green Energy Holding Company Limited 22.58 19.429 24.074
For investors following solar stocks, the RenewableEnergyStocks.com website
provides a comprehensive list of photovoltaic and solar stocks to research.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (
OTCBB:
CSKH)
through its wholly owned subsidiary provides full-service renewable energy
solutions to commercial, industrial, and agricultural clients across the
country. More info can be found on the Investorideas.com Company Showcase,
or the company website at
www.clearskiesgroup.com.
Featured Showcase Solar Company: XsunX Inc. (
OTCBB:
XSNX) is developing
amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing
processes to produce TFPV solar modules. More info can be found on the
Investorideas.com Company Showcase, or the company website at
http://www.xsunx.com/.
Disclaimer: Our sites do not make recommendations. Nothing on our sites
should be construed as an offer or solicitation to buy or sell products or
securities. We attempt to research thoroughly, but we offer no guarantees
as to the accuracy of information presented. All Information relating to
featured companies is sourced from public documents and/ or the company and
is not the opinion of our web sites. Disclosure: XsunX and Clear Skies
Holdings compensate the website $5000 per month.
www.InvestorIdeas.com/About/Disclaimer.asp
Contact Information: For more information contact:
Dawn Van Zant
800.665.0411
Email: