U.S. Alternative Energy Correspondent
Nichola's Feed
Aug 31, 2011

US solar company that Obama visited will shut down

LOS ANGELES, Aug 31 (Reuters) – U.S. solar start-up
Solyndra LLC, succumbing to pressure from lower-cost Chinese
rivals, said it has suspended operations and plans to file for
bankruptcy, 15 months after President Barack Obama visited a
company factory that was to be expanded with the help of a
federal loan guarantee.

The Chapter 11 filing, expected next week, will make
Solyndra the third U.S. solar company to seek bankruptcy
protection in the last month. Former Wall Street high flyer
Evergreen Solar Inc (ESLRQ.PK: Quote, Profile, Research, Stock Buzz) filed for Chapter 11 two weeks
ago, followed four days later by SpectraWatt Inc, a private
company that was backed by Intel Corp (INTC.O: Quote, Profile, Research, Stock Buzz).

Aug 16, 2011

First Solar executive Meyerhoff leaving company

LOS ANGELES, Aug 16 (Reuters) – First Solar Inc (FSLR.O: Quote, Profile, Research, Stock Buzz) on
Tuesday said the head of its utility systems business, Jens
Meyerhoff, is leaving the company, effective Sept. 30.

James Brown, senior vice president of utility systems
business sales, will succeed Meyerhoff in the utility-scale
solar unit and will report to Chief Executive Rob Gillette.

Aug 15, 2011

Solar company Evergreen files for bankruptcy

LOS ANGELES (Reuters) – U.S. solar company Evergreen Solar Inc filed for bankruptcy on Monday, its once cutting-edge technology falling victim to competition from cheaper Chinese rivals and solar subsidy cuts in Europe.

The Chapter 11 filing by a company once seen at the forefront of U.S. renewable energy technology came after a two-year struggle to stave off competition from Asia. The increasingly crowded market forced Evergreen to close its much-touted but short-lived Massachusetts factory and relocate manufacturing to China, and resulted in the virtual disappearance of its once-lofty stock market value.

Aug 9, 2011

SunPower cuts 2011 profit forecast, addresses costs

LOS ANGELES, Aug 9 (Reuters) – SunPower Corp (SPWRA.O: Quote, Profile, Research, Stock Buzz) on
Tuesday lowered its 2011 profit outlook but backed its revenue
and gross margin forecasts, saying demand for solar panels is
strong after a tumultuous first half of the year.

The U.S. panel maker, which also reported an expected net
loss for the second quarter, is majority-owned by French energy
giant Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) following a tender offer that closed in
June.

Aug 4, 2011

First Solar profit falls, cuts 2011 forecast

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
thin-film panels.

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.

Aug 3, 2011

GT Solar results, MEMC deal cheer investors

LOS ANGELES (Reuters) – Solar investors on Wednesday cheered better-than-expected results from equipment maker GT Solar International Inc and MEMC Electronic Materials Inc’s newest purchase of a solar project developer, sending both stocks up in extended trade.

GT Solar, the world’s third biggest maker of the machines used to make photovoltaic equipment, said its backlog rose to a record $2.3 billion, sending its shares up more than 5 percent. The company has booked a string of contract wins this year, thanks in part to its entry into the LED business through the acquisition last year of sapphire maker Crystal Systems.

Aug 3, 2011

BrightSource to offer solar-plant energy storage

LOS ANGELES, Aug 3 (Reuters) – BrightSource Energy Inc on
Tuesday said it was now able to store the energy its solar
thermal power plants produce, allowing them to function during
after the sun sets.

The company, which filed with U.S. securities regulators
for an initial public offering earlier this year, said it is
combining its power tower solar thermal technology with molten
salt storage.

Jul 29, 2011

After dismal second-quarter, solar outlook brightens

LOS ANGELES/FRANKFURT (Reuters) – Solar investors should brace themselves for some downright dreadful second-quarter earnings reports in the coming weeks, though the rest of the year may provide some relief to battered solar stocks as panel prices stabilize and profit margins recover.

The solar market likely bottomed in the second quarter after pullbacks in subsidies in No. 2 solar market Italy stalled development of projects there this spring, creating an oversupply of solar panels in the market and sparking a more than 20 percent drop in prices.

Jul 29, 2011

After dismal 2nd-qtr, solar outlook brightens

LOS ANGELES/FRANKFURT, July 29 (Reuters) – Solar investors
should brace themselves for some downright dreadful
second-quarter earnings reports in the coming weeks, though the
rest of the year may provide some relief to battered solar
stocks as panel prices stabilize and profit margins recover.

The solar market likely bottomed in the second quarter
after pullbacks in subsidies in No. 2 solar market Italy
stalled development of projects there this spring, creating an
oversupply of solar panels in the market and sparking a more
than 20 percent drop in prices.

Jul 25, 2011

SunPower to post second-quarter loss, shares dive

LOS ANGELES (Reuters) – SunPower Corp warned on Monday that it lost money in the second quarter because of subsidy cuts in Italy and one-time charges for an inventory writedown, contract cancellations and its strategy of shifting panel sales to areas of greater demand.

The company’s shares fell 7.1 percent following the announcement.

However, the U.S. panel maker said revenue would be in line with a forecast it gave last month.