StockCall scrutinizes First Solar and Suntech Power announces solar sector seeing a rebound
Tuesday, Feb 12, 2013
LONDON, February 11, 2013 /PRNewswire/ --2012 was a difficult year for the solar sector as excess capacity and weakness in core European markets had a negative impact on pricing. However, the outlook for the solar sector has improved significantly, which is a good sign for solar companies such as First Solar Inc. (NASDAQ: FSLR) and Suntech Power Holdings Co. Ltd. (ADR) (NYSE: STP). StockCall reviewed the solar industry and chose First Solar and Suntech Power for its technical coverage. These free reports can be seen for free at
http://www.stockcall.com/signup.
A Difficult Year
Solar companies had a difficult two years as weakness in the world's top solar market, Europe, and excess capacity sent prices down sharply for solar modules. The crisis in the solar industry led to many companies filing for bankruptcy, including Solyndra in the U.S.
According to research firm IHS, by the end of 2012 there were less than 150 global solar module and cell companies, down from 750 in 2010. The significant drop in solar firms was due to consolidation.
In Europe, the debt crisis led to diminished government support which hurt the solar industry. At the same time, the industry was hit with oversupply. These factors contributed to a sharp decline in prices of solar modules. However, solar companies could not bring down their costs even as prices fell, resulting in significant losses for solar companies.
First Solar Acquires 50 MW Solar Project
Last month, First Solar announced that it acquired the 50 MW Macho Springs project developed by Element Power Solar in Luna County, New Mexico. On completion, the project will be the state's largest solar power project, the company stated in a statement last month. Register for today's free analysis on First Solar at http://www.StockCall.com/FSLR021113.pdf.
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