SOLAR LEADERS SEE RECOVERY COMING
Solar execs see small signs of recovery
Michael Erman and Nicola Groom (w/Phil Berlowitz and Tim Dobbyn), June 2, 2009 (Reuters)
"Solar power executives are seeing encouraging signs of what could be a major recovery in U.S. solar demand, but they are still cautious about the rest of this year after being pummeled by the global credit crisis…The solar industry was virtually unscathed by the economic downturn until late last year, when funding for all types of projects dried up.
"…[A] lack of financing combined with a pullback in solar tax breaks in Spain released a flood of solar panels into the market, driving prices down and hurting producers' profits...But [industry executives]….see positive signs in both the credit markets and in U.S. policy to support renewable energy."
"Despite the weak economy, [some expect] the solar market in the United States to be about flat in 2009 compared with 2008. At the same time, [one company] expects to double its U.S. market share to 20 percent this year from 10 percent last year.
"The federal stimulus package has already helped improve sentiment in the market…[Though it won’t affect bottom lines until the latter part of 2009, there will be] a much larger impact in 2010."
"SunPower has seen six weeks of encouraging trends during the first half of this quarter… [but] the Unites States could be in the middle of a W-shaped recovery that would not be sustained…
"Energy Conversion Devices Inc [says] that access to project financing remains scarce and government stimulus funds have yet to kick in…Like its larger competitor [in thin-film materials], First Solar Inc, the company has resorted to providing financing to its customers in order to get projects started… [Energy Conversion Devices is more optimistic] about 2010…"
posted by Herman K. Trabish @ 5:50 AM
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