WASHINGTON, Sept 21 (Reuters) – The U.S. arm of Germany’s
Solon is betting that demand for solar power from utilities and
a new easier to install panel will help drive growth as it
shuts down its module making operation in Arizona, the head of
that unit said on Wednesday.
Solon announced last month it would halt module production
at its Tucson, Arizona plant, laying off 60 of its 130 workers
there, to concentrate on building solar power plants for
Sept 15 (Reuters) – The cost to install solar power in the
United States fell by 17 percent in 2010 and is on pace to drop
even faster this year, according to a new report issued by the
Lawrence Berkeley National Laboratory.
The total cost to place solar systems on homes and
businesses in 2010 excluding government incentives dropped to
$6.20 per watt from $7.50 in 2009, according to the study, the
fastest drop in the 13 years of data included in the study by
the Berkeley Lab, which is managed by the University of
California and partly funded by the U.S. Energy Department.
NEW YORK/FRANKFURT (Reuters) – A brutal 2011 has left the solar industry dazed, damaged and on the cusp of a major shakeout of weaker players who are more likely to shut down than be snapped up by their stronger rivals.
Solar subsidy cuts in top markets Italy and Germany prompted a 20 percent drop in the price of solar panels this year, bringing the fast-growing solar industry to a critical tipping point. Even companies that had been stock market heroes find themselves as the walking wounded, struggling to cut costs in a market awash with solar panels.
NEW YORK (Reuters) – Rosy earnings from Chinese solar panel maker Yingli Green Energy on Friday stood in stark contrast to the dismal reports from its rivals, and the company said market signs pointed to a rebound in the second half of the year.
The solar industry has been battered in 2011 by steep declines in the prices for the modules that turn sunlight into electricity, shrinking profit margins and pushing some of the largest players into the red.
NEW YORK, Aug 12 (Reuters) – U.S. companies are pouring
their cash stockpiles into buying back their own shares,
betting on a Wall Street rebound rather than investing in new
operations or bumping up dividends.
And though investors cheered the moves during the market’s
recovery rally on Thursday, the strategy may not ultimately pay
off for shareholders as buybacks are often a sign companies see
few good opportunities to expand through building an additional
factory, buying equipment or acquiring another company.
NEW YORK/LOS ANGELES, Aug 4 (Reuters) – First Solar Inc
(FSLR.O: Quote, Profile, Research, Stock Buzz) posted lower-than-expected quarterly profit and cut
its 2011 forecast as slack demand in Europe hit prices for its
Global solar module demand has suffered this year as
declines in subsidies in key European markets hurt sales, even
as First Solar and rivals such as Suntech Power Holdings Co Ltd
(STP.N: Quote, Profile, Research, Stock Buzz) and Trina Solar Ltd (TSL.N: Quote, Profile, Research, Stock Buzz) expand production.
NEW YORK, Aug 2 (Reuters) – Duke Energy (DUK.N: Quote, Profile, Research, Stock Buzz), which is
seeking to buy Progress Energy (PGN.N: Quote, Profile, Research, Stock Buzz), posted second-quarter
profit that slightly beat Wall Street forecasts, while Entergy
Corp (ETR.N: Quote, Profile, Research, Stock Buzz) earnings were near flat.
Strong performance from Duke’s international business and
U.S. gas power plants in the wholesale markets helped offset
higher costs to repair storm damage, which totaled $50 million
in the quarter, Chief Financial Officer Lynn Good told Reuters
NEW YORK/SAN FRANCISCO (Reuters) – Chevron Corp, the second-largest U.S. oil company, booked a 43 percent jump in quarterly profit, beating estimates as high oil prices and fat refinery margins offset weaker output.
The numbers out on Friday were the latest in a string of huge profits from the industry, which got a boost from the highest oil prices in nearly three years. Exxon Mobil Corp and Royal Dutch Shell Plc also benefited from acquisitions and shifts into new projects.
NEW YORK (Reuters) – Chevron Corp, the second-largest U.S. oil company, reported a 43 percent jump in quarterly profit on Friday, beating Wall Street forecasts as high oil prices and fat refinery margins offset a drop in its oil output.
Chevron’s surging earnings were the latest in a string of huge profits reported this week by the industry that has benefited from the highest oil prices in nearly three years.
NEW YORK (Reuters) – Three top U.S. power companies posted higher-than-expected quarterly earnings on Wednesday, but drew a mixed a picture of the nation’s economic outlook and demand for electricity
Exelon Corp (EXC.N: Quote, Profile, Research, Stock Buzz), which operates the largest U.S. fleet of nuclear power plants, raised its full-year profit forecast based on results in the first half, when it relied on strong residential and small-business demand to offset weak electricity usage from industrial customers.