A NEW SUPPLY OF SOLAR

Evergreen’s ‘Paradigm Shift’
Leah Krauss, April 19, 2007 (UPI)

WHO
Evergreen Solar/Chairman and CEO Richard M. Feldt; DC Chemical/Vice Chairman Hyunwoo Shin.
Evergreen Solar installation (Austin Convention Center?)
WHAT
Evergreen Solar obtained significant new silicon supply and manufacturing potential in its drive to bring the cost of solar energy into competitive parity with fossil fuel-based electricity generation. There is a worldwide silicon shortage thru 2008 due to refining facility limitations.

WHEN
2006 losses of $8 million to $8.25 million are expected as part of the buildup, especially in conjunction with German holdings (EverQ, Q-Cells), but long term expections are optimistic.

WHERE
Evergreen Solar is based in Marlboro, Massachusetts

WHY
Increased silicon supply, integral in solar cell production, translates into cheaper solar cells. Evergreen locked down a secure 1 gigawatt module silicon supply (assuming $1.50/watt) from DC Chemical thru 2014. The new Massachusetts factory gives Evergreen a 70 megawatt capacity, spurring Massachusetts Gov. Deval Patrick's stated goal to raise the state to 250 megawatts of solar capacity by 2018.
click to enlarge graph
QUOTES
Feldt: The company is working to "reduce the cost of production, and to reduce cost throughout the value chain, to reach grid parity…"
Shin: "The investment of both our polysilicon manufacturing capacity and our financial resources indicates that we believe in Evergreen Solar's technology, industry vision and management team…We hope that with our ongoing support as both a key supplier and a major shareholder that Evergreen Solar will be able to realize the significant market penetration and financial potential of its wafer technology."